Hilton Hotels & Resorts

The DJIA rose 56 points while Nasdaq was up 162, the S&P 500 rose 35 points and the 10 year treasury yield fell .07 to 3.80%. Lodging stocks were modestly higher. Truist published a report on Vacation Ownership following 3Q results from the public companies involved in the segment. Genuine Hospitality announced the opening of Tru by Hilton Naperville Chicago , the first Tru by Hilton in Illinois.

Bloomberg said Fosun is also considering strategic options for French luxury resort chain Club Med SAS and could seek a value of about $1.5 billion for the business. Shanghai Disney Resort remains closed, two weeks after Covid-19 cases caused operations to cease. Marriott International announced plans to expand its select service portfolio in Greater China with the expected addition of 30 hotels in the segment by the end of 2023.

The DJIA fell 211 points while Nasdaq was down 127, the S&P 500 fell 36 points and the 10 year treasury yield was up .05 to 3.87%. Lodging stocks were modestly lower. SLNA was the big mover, down -7%. B.Riley lowered its price target for Braemar Hotels & Resorts to $9 from $12; on Ashford Inc . to $18 from $23 and on Ashford Hospitality Trust to $9 from $12. Red Roof held its 2022 Brand Conference, telling their franchise owners they are positioned for long-term growth.

Lodging stocks were higher again with MCG up 11%, HT up 8%, ABNB up 7%, SLNA up 6% and SVC up another 5%. Both Marriott International and Hilton announced an increase in their share buyback authorizations. Hilton announced its board of directors authorized the repurchase of an additional $2.5 billion of common stock under its existing stock repurchase program.

Let’s go backwards to give you an overview of today’s market. The 10-year treasury yield plunged 0.32 to 3.83%. That is a nearly 8% drop in the yield on a modestly better CPI report. Vacasa reported 3Q results that went over as well with investors as their weak fourth quarter guidance. The LWHA Q3 2022 Major U.S. Hotel Sales Survey includes 119 single asset sale transactions over $10 million which totaled roughly $3.7 billion.

Hilton Grand Vacations clearly had the best report of the timeshare group with their 3Q results, with a solid beat of estimates. STR reported US hotel RevPAR rose 21.1% year over year for the week ended 11/5. JLL’s Hotels & Hospitality Group released its second annual Hotels Global Asset Management Report outlining tips for profitability and minimizing operational risks.

Lodging stocks were mixed. Choice (CHH) was the big loser, down -9%, while MCG was down -7% and AINC fell -6%. Choice Hotels received a mixed response to their 3Q earnings report from analysts and a big thumbs down from investors. Hilton announced the opening of its two-hundredth hotel in the Caribbean and Latin America, Waldorf Astoria Cancun , a 173-room luxury resort set on 100 acres of coastline.

Marriott International will be adding about 13-14 hotels in India under different brands in the next 12 months. Hong Kong has continued to loosen Covid restrictions , now targeting eventgoers. Hilton announced the signing of an agreement with Wondergrain Exports Private Limited to launch DoubleTree by Hilton Amritsar .

DiamondRock Hospitality reported 3Q results, beating the preliminary results they announced two weeks ago. Jefferies cut its rating on Xenia Hotels & Resorts to Hold from Buy. Lodging stocks were mixed. SLNA plunged another -20%, quickly becoming the biggest disaster in a long line of SPAC disappointments in the past year

Lodging stocks were lower again. SLNA looks like it is going to go down to penny stock status, down another -28% to another new low. The last 24 hours had a barrage of earnings reports and not many of them were taken well. Hyatt was picked as the best of the group even with results some deemed as weaker than expected which says a lot about the other reports. Marriott’s 3Q was in line but net rooms growth was trimmed for the full year with China blamed.