Kalyan Hospitality

North America

IHG’s Data Breach Concerns

The  DJIA  rose 230 points while  Nasdaq  was up 154, the  S&P 500  rose 43 points and the  10-year treasury yield  was up .04 to 3.36%. Lodging stocks were modestly higher. IHG’s hack appears to be a lot worse than the ones at other hotels as the ransomware attack may very well impact their 3Q results as they continue to have their online reservation system crippled by the attack. Watermark Lodging Trust  said the proposed acquisition of the company by private real estate funds managed by  Brookfield  was approved by its stockholders.