Costa Rica

Either investors did not like Membership Collective Group’s earnings report, their management changes or both but the stock got crushed today, down -19%. STR reported US lodging data for the week ended 11/12. US RevPAR was up 19.4%, year over year. The Development Review Committee for Pompano Beach, Florida , is considering the site plan for a 1.1-acre property for which MHG Hotels proposed a Homewood Suites by Hilton hotel.

The DJIA jumped 551 points today while Nasdaq was up 354, the S&P 500 was up 95 points and the 10-year treasury yield was up .01 at 4.02%. The Baird/STR Hotel Stock Index fell -9.1% in September. Despite continued strong RevPAR, both year over year and 2019 comps, the stock index has dropped -20.6% in the first 9 months of the year. Driftwood Capital broke ground on the Element by Westin , a new 130-key extended-stay hotel located on prime oceanfront property in Melbourne, FL .

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.

The equity indexes have really calmed down while treasuries get really volatile. Lodging stocks were higher. AINC was the big mover, up 11%. SMBC Nikko cut its rating on Park Hotels & Resorts to Neutral from Outperform. Its price target is $16. The CBRE Hotels Research State of the Union showcases current demand trends, as well as fundamentals by segment, location type and chain scale.