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North America
Hotel Business Has Returned to Pre-Pandemic Levels
The DJIA was up 193, Nasdaq was up 70, the S&P 500 was up 26 points and the 10-year treasury yield was up .03 to 3.29%. According to the D.C. Office of the Chief Financial Officer, the hotel industry in Washington, D.C. , has largely returned to pre-pandemic business and most of that bounce back has come only in recent months. Accor and SHe Travel Club announced a partnership aiming to re-imagine the female travel and hospitality experience. -
North America
Short-Term Rental Demand Is Up
The DJIA ended the day down 280 points while Nasdaq was down 67, the S&P 500 fell 31 points and the 10 year treasury yield was up .02 to 3.13%. Lodging stocks were lower. MCG fell -8% today and hit a new all time low. SOND was up 5%. STR said U.S. hotel RevPAR for the week ending August 27 th was up 18.2%. RevPAR versus the same week in 2019 was up 12.1%. Speaking during a session at the Hotel Data Conference , AirDNA Director of Product Max Bernstein said as of June 2022, demand for short-term rentals is up 21% indexed to 2019 -
North America
Canada’s Hotel Pipeline for Q2 2022
The DJIA fell 58 points, Nasdaq was down 151, the S&P 500 was down 18 points, and the 10-year treasury yield was up .03 to 2.80%. The second half of the earnings season included a sparkler from Hyatt, while IHGwent back to returning money to shareholders with dividends and up to $500 million in share buybacks. According to the recently released Q2 2022 Canada Construction Pipeline Trend Report from Lodging Econometrics , at the close of the quarter, the total construction pipeline in Canada stands at 261 projects.