Legendary Hotels and Resorts

North America

Dividend Announcements Buoy Lodging Stocks

On Friday lodging stocks ended higher: BHR rose 12% while AINC was up 7%. SOND fell -7% on the day. Raymond James downgraded Pebblebrook Hotel Trust and Xenia Hotels & Resorts to Market Perform from Outperform while cutting Sunstone Hotel Investors to Underperform from Market Perform. Ryman Hospitality also announced they were boosting their quarterly dividend, declaring the 4Q dividend of $0.25 per share.
North America

Marriott and Hilton Increase Share Buyback Authorizations

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.