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North America
Baird’s 2023 REIT Outlook Is Cautious
Lodging stocks were higher with the only big mover of note once again being AHT, up another 6%. Baird gave their 2023 Hotel REIT outlook saying they are taking a more balanced approach in early 2023 as macroeconomic risks and growing expense pressures keep them selective. STR announced U.S. lodging data for the week ended January 7th. Year over year RevPAR was up 21.8% on easy comps due to holiday/school timing and the Omicron outbreak last year. -
North America
Hard Rock International Nears Completion of Mirage Hotel Acquisition
Aloft Hotels announced it has arrived in Playa del Carmen, Mexico , marking the third Aloft hotel in the Caribbean. Two new hotels are being planned by Performance Capital Partners LLC in Surprise, Arizona . A new dual-brand Marriott TownePlace Suites and Marriott Fairfield Inn & Suites. MCR acquired the Hyatt Place Miami Airport East in Miami, FL , marking the company’s ninth hotel in Florida and its first Hyatt hotel. -
North America
Marriott Vacations Announces Increased Quarterly Dividend
Marriott Vacations Worldwide Corporation announced an increase in its quarterly dividend. MCR has acquired the Staybridge Suites Chattanooga Downtown , a five-story, extended-stay hotel in Chattanooga, Tennessee. The DJIA rose 35 points Friday while Nasdaq was down 21, the S&P 500 was down 5 points and the 10-year treasury yield was down .02 to 3.51%. -
North America
Lodging Stocks Surge With Broader Market Gains
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.