Chambers Hotel New York Reopens as Fully Independent Boutique Hotel
Skift Take
The Chambers Hotel New York in Midtown Manhattan has reopened as a fully independent boutique hotel after a brief period as a Sonder property. Plus, more hotel deal and development news.
The DJIA ended the day up 306, the Nasdaq was up 2.1% or 523 points, and the S&P 500 was up 86. The 10-year treasury yield was flat at 4.37%, but lodging stocks were mostly lower. We had new highs set this morning in INN, APLE, RHP, VAC, and ABNB, but only the two non-REITs, VAC and ABNB, managed to end the day in positive territory as profit taking and a sector rotation took place. BHR traded down to a new 52-week low.
Baird reported on AAA's projections that there will be less than a 1% increase in travel for the July 4th holiday period. It will be a record 72.2 million if AAA's projections are correct, up 0.6% over 2025. We should note that AAA had the same 72.2 million projection last year, and it was not met. Air and car travel will be flat, with gains coming from cruise, bus, and train.
Wyndham Hotels & Resorts announced the Sheraton Parsippany as one of its upscale Dolce by Wyndham destinations. The six-story, 370-room hotel is located in Parsippa
