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North America
Lodging Stocks Fall Along With Market Drops
The DJIA fell 351 points while Nasdaq was down 225, the S&P 500 fell 58 points and the 10 year treasury yield was down .09 to 3.51%. What happened to the Santa Claus Rally? Braemar Hotels & Resorts Inc. reported preliminary portfolio occupancy of approximately 64% for November 2022 with an ADR of approximately $394 resulting in RevPAR of approximately $253. Marriott International, Inc . announced the completion of an $11 million dollar revitalization of its 395-room Falls Church Marriott Fairview Park , in Falls Church, Virginia . -
North America
The Current State of Vacation Ownership
The DJIA rose 56 points while Nasdaq was up 162, the S&P 500 rose 35 points and the 10 year treasury yield fell .07 to 3.80%. Lodging stocks were modestly higher. Truist published a report on Vacation Ownership following 3Q results from the public companies involved in the segment. Genuine Hospitality announced the opening of Tru by Hilton Naperville Chicago , the first Tru by Hilton in Illinois. -
North America
Selina Plunges on Second Trading Day
Pebblebrook Hotel Trust reported sold 3Q22 earnings, but since they give monthly updates and pre-announced, there was no surprise. While lodging stocks were higher, the action in Selina on Friday was just as ridiculous as on Thursday but in the other direction. While Travel + Leisure’s stock price rebounded a little bit after Thursday’s earnings-induced decline, Credit Suisse lowered the boom on them. -
North America
Selina Surges on First Day of Trading
Lodging stocks had a good day, with Selina’s first day of trading leading the way, surging to a close of $40.90. Hersha Hospitality , Accor and Travel + Leisure reported results with TNL getting the worst reviews . Selina and BOA announced the closing of their business combination which was approved by BOA stockholders on October 21, 2022. -
North America
Two Perspectives on Hotel Recovery
The DJIA fell 139 points on Friday while Nasdaq was down 104, the S&P 500 fell 28 points and the 10-year treasury yield was down .01 to 3.45%. Citigroup cut its rating on IHG Hotels & Resorts to Sell from Neutral. Citi believes the incomplete recovery in corporate travel will weigh on IHG’s RevPAR. Berenberg , on the other hand, sees hotels as the top travel play . The brokerage firm says concerns about the hotel industry are overblown and the outlook for RevPAR for 2023 and 2024 will strengthen further.