Spark by Hilton Is a Conversion Favorite
Skift Take
- BofA Securities initiated coverage on Marriott Vacations with a Neutral rating and a $180 price target.
- The Wall Street Journal published an article on how hotel companies are stepping up efforts to lure competitors’ hotels to their own brands. The article referenced Hilton’s new Spark by Hilton brand.
- We had heard those concerns about upcoming maturities from Service Properties Trust when we were positive about their resumption of the previous dividend, giving them an 11% yield at the time.
The DJIA fell 36 points, Nasdaq was down 120, the S&P 500 fell 25 points and the 10-year treasury yield jumped another .10 to 3.63%. Lodging stocks were mostly lower. SOND was the biggest mover, down -9% while VCSA fell -6%.
BofA Securities initiated coverage on Marriott Vacations with a Neutral rating and a $180 price target.
The Wall Street Journal published an article on how hotel companies are stepping up efforts to lure competitors’ hotels to their own brands. The article referenced Hilton’s new Spark by Hilton brand, the first one built as a pure conversion vehicle. That brand is aimed primarily at bringing independent and rival properties into the Hilton system. With commentary about how the pipeline has slowed to a trickle citing new construction loan difficulty, conversions are getting a lot of attention. Spark by Hilton allows owners to convert their properties for $20,0
