Staybridge Suites

RLJ Lodging Trust reported in-line results with some limited guidance they gave in January at ALIS. Summit Hotel Properties reported 4Q results ahead of estimates with strong earnings contributions from the recently acquired properties, including NewcrestImage. Argus Research upped their rating on Airbnb to Buy from Hold with a $144 price target.

Lodging stocks were mostly lower. VCSA was down -12%, SOND was down -8% but MCG was up 5% on a new Buy rating. Northland Capital Markets initiated coverage on Selina Hospitality Group with an Outperform rating and $4.50 target price. The scheduled auction of the downtown Hilton Hotel Minneapolis , previously slated for Friday, has been postponed.

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%.

Hyatt Hotels Corporation and Dream Hotel Group announced an agreement for a Hyatt affiliate to acquire Dream Hotel Group’s lifestyle hotel brand and management platform. Hyatt Hotels Corporation announced the opening of Rancho Pescadero , the first Hyatt branded luxury resort to debut in Todos Santos in Mexico . The Westin Hilton Head Island Resort & Spa , located in South Carolina , has embarked on a $10 million renovation.

The DJIA rose 334 points, Nasdaq was up 52, the S&P 500 rose 21 points and the 10 year treasury yield was down .09 to 4.13%. Apple Hospitality reported a modest beat with RevPAR up 7.5% versus 3Q19. In September and October APLE bought back a modest amount of stock just above $14 a share. Sunstone Hotel Investors reported a slight 3Q beat. SHO continues to be a buyer of their own stock under $10.

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

Truist lowered target prices on their vacation ownership names despite publishing a positive report on their beat and raise quarters along with the continued return of capital. STR and Tourism Economics adjusted occupancy downward but lifted projections once again for ADR in the revised U.S. hotel forecast just presented at the Hotel Data Conference . Mission Hill Hospitality has acquired the Courtyard by Marriott Lenox and Hampton Inn & Suites Berkshire-Lenox , located in the heart of the Berkshire region of Western Massachusetts.