Lodging Stocks Follow Rest of the Market Down
Financial markets plunged with major indices and lodging stocks down sharply, except for SHCO which rose 6%.
Kim Woinski
Kim is Vice President of Gaming USA Corporation, the previous owner of the Daily Lodging Report, now owned by Skift. Kim is the primary writer of the Daily Lodging Report – North America. Kim moved to Southwest Florida in July of 2020 and recently became a first time grandmother to baby Susie.
RLJ, Xenia, DiamondRock, and Chatham Report Earnings
Quarterly reports were mostly positive, but the week ended on a down note as hospitality stocks were down across the board.
Marriott Vacations Takes a Beating
Marriott Vacations Worldwide's stock fell sharply due to a disappointing earnings report and a significant loan loss provision, indicating struggles in the timeshare market.
U.S. Hotel Pipeline Report for Q2 2024
The DJIA rose 99 points while Nasdaq surged 452, the S&P 500 rose 86 points and the 10-year treasury yield was down .03 to 4.11%. Lodging stocks were modestly higher, did much better due to the…
San Francisco Area Hotel Production Dries Up
Hotel production in the San Francisco Bay Area has nearly stopped in 2024, with only two new openings and uncertain prospects for ongoing projects.
New York City Targets Hotel Labor Sub-Contracting
A proposed bill in New York City aims to ban nonunion hotels from outsourcing key functions, potentially disrupting hotels that subcontract consumer-facing work to firms that pay employees lower wages for tasks like housekeeping and security.
Pebblebrook Boosts EBITDA Outlook
Pebblebrook Hotel Trust increased their 2024 EBITDA and AFFO outlook despite reducing their RevPAR outlook, anticipating a stronger 2025.
Wyndham and Accor Post Earnings Updates
Wyndham showed strong performance through expense containment and share repurchases, and Accor increased RevPAR, net unit growth, and EBITDA.
Timeshare and Casino Earnings Spook Investors
Investors are concerned as Travel + Leisure Co. and Red Rock Resorts reported modest or solid earnings but saw stock declines, reflecting nervousness and a shoot-first-ask-later mentality on Wall Street.
Los Angeles' Trio of Grafitti'd Hotel and Condo Towers Gets a Bidder
A stalking-horse buyer has offered $500 million for the abandoned Oceanwide Plaza in Downtown Los Angeles, which includes a partially built Park Hyatt hotel.