Maryland

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.

The DJIA fell 100 points, Nasdaq was down 92, the S&P 500 was down 25 and the reason for the punch bowl being taken away from the recent rally was the 10 year treasury yield spiking. STR said US RevPAR was up 26.7% year over year for the week ending 10/15. A new analysis projects U.S. hotel leisure travel revenue to be 14% higher by the end of this year than it was in 2019.

The DJIA  rose 19 points, Nasdaq was up 27, the S&P 500 was up 10, the 10-year Treasury yield was down .01 to 2.88% and lodging stocks were higher on a calm day in the market. B.Riley Securities upped its price target on Ashford Inc to $23 from $19. Pebblebrook Hotel Trust said total revenue in July topped pre-pandemic levels for the first time since the onset of the pandemic.

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.