Palladium Hotel Group

Ashford Hospitality Trust introduced the “GRO AHT” initiative to cut overhead, boost revenue, and enhance operational efficiency, thereby driving EBITDA growth and improving shareholder value.

Deutsche Bank's conference highlighted mixed optimism in the gaming, lodging, and leisure sectors, with discussions on election impacts, leisure demand stabilization, corporate travel growth, M&A opportunities, and cautious investor views on resort acquisitions.

Service Properties Trust is reducing its dividend, selling 114 hotels to repay debt and save on capital expenditures, and will continue owning 34% of Sonesta while selling other properties.

DJIA gained 213 points, Nasdaq increased by 114 points, and S&P 500 rose 28 points; 10-year treasury yield decreased by 0.03 to 4.21%. Lodging stocks surged on Hersha Hospitality buyout news, particularly REITs: HT up 56%, BHR up 16%, AHT up 10%, others up 6% each, while AINC traded down -9%. Hersha Hospitality Trust and KSL Capital Partners will merge in an all-cash deal worth $1.4 billion, where common shareholders receive $10.00 per share and preferred shareholders receive varying amounts based on their holdings. The merger aims to close in Q4 2023, leading to a rally in hotel REIT stocks. Major US and Chinese hotel groups have strengthened post-pandemic, while Europe lags behind. Marriott, Jin Jiang, and Hilton lead the world hotel ranking, with only one European representative (Accor). US has six companies in top 10, China has three, and Spanish companies see shifts in their rankings.

Market summary: DJIA, Nasdaq, and S&P 500 experienced declines, while the 10-year treasury yield decreased slightly. Playa Hotels & Resorts downgraded by Bank of America Securities, with a lowered price target. In Europe and the Caribbean, look to the upcoming opening of One&Only Aesthesis resort in Greece , renovations at Club Med Buccaneer's Creek in Martinique , Eurostars Hotel's operation of a luxury hotel in Rotterdam

It was a rough one for Airbnb as investors seemed blindsided by their guidance. The 1Q results were in line but ABNB said they expect 2Q bookings to have slower growth . The best thing to be said about Vacasa’s earnings report came from JP Morgan . Their headline was the quarter was better than feared. STR reported US lodging data for the week ended 5/6. US hotel RevPAR was up 8.4% year over year.

B of A Securities initiated coverage on Hilton Grand Vacations with a Neutral rating and $50 price target. OYO plans to expand its market presence in the U.S. with an addition of over 100 hotels in CY2023. Morgan Stanley cut their price target on Park Hotels to $13 a share from $14 while maintaining their Equal Weight rating.

The DJIA rose 75 points, Nasdaq was up 117, the S&P 500 gained 12 points and the 10-year treasury yield was down another .09 to 3.41%. Lodging stocks were mixed. Pebblebrook Hotel Trust gave a 1Q operating update, showing the quarter is in line with their recent guidance. Tourism to and from the U.S . has gradually recovered in 2022 without fully returning to pre-pandemic levels, according to the Commerce Department.

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