Global Tourism Sector Will Almost Recover in 2023
Skift Take
The DJIA was down 56 points but Nasdaq was up 22, the S&P 500 rose 2 points and the 10-year treasury yield seems to be the best trade these days, back up to 3.52%, up .08 today. Lodging stocks were modestly lower. ABNB was the only mover of note, up 5% while SLNA traded down to another all-time low before getting a little bounce.
Hilton Grand Vacations announced its board of directors approved a two year share repurchase plan authorizing the company to buy back up to an aggregate of $500 million of its outstanding shares of common stock. The new plan will go into effect as soon as the existing two year repurchase program, authorized by their board of directors in May 2022 for $500 million, is fully completed. As of April 30. 2023, HGV had approximately $83 million remaining under the prior repurchase program.
The World Travel & Tourism Council said the global travel and tourism sector won’t fully recove
