Xenia Hotels & Resorts

Lodging stocks were mixed. AINC was up 5% while the biggest mover was to the downside with VCSA falling -14%. Morgan Stanley lowered their price target on Airbnb to $105 from $125. MS maintained their Equal Weight rating. Xenia Hotels & Resorts sold the 115-room Celebration Hotel to Vision Hospitality Group .

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.

The  DJIA fell 184 points, Nasdaq was down 124, the S&P 500 was down 27 points and the 10-year treasury yield was up .08 to 3.11%. Wells Fargo made a few changes to their coverage of lodging names . They cut their ratings on Hersha Hospitality, DiamondRock Hospitality and Pebblebrook Hotel Trust to Equal Weight from the previous Overweight ratings Four Seasons Hotels and Resorts unveiled its new brand creative platform, Luxury Is Our Love Language , celebrating the brand’s unique and energetic perspective on the definition of luxury.