North America

Lodging Stocks Surge With Broader Market Gains

Let’s go backwards to give you an overview of today’s market. The 10-year treasury yield plunged 0.32 to 3.83%. That is a nearly 8% drop in the yield on a modestly better CPI report. Vacasa reported 3Q results that went over as well with investors as their weak fourth quarter guidance. The LWHA Q3 2022 Major U.S. Hotel Sales Survey includes 119 single asset sale transactions over $10 million which totaled roughly $3.7 billion.
North America

Hotel Business Has Returned to Pre-Pandemic Levels

The  DJIA was up 193, Nasdaq was up 70, the S&P 500 was up 26 points and the 10-year treasury yield was up .03 to 3.29%. According to the D.C. Office of the Chief Financial Officer, the hotel industry in Washington, D.C. , has largely returned to pre-pandemic business and most of that bounce back has come only in recent months. Accor and SHe Travel Club announced a partnership aiming to re-imagine the female travel and hospitality experience.
North America

Graduate Hotels Launches a Short-Term Rental Brand

The vast majority of lodging company earnings, both REIT and C-Corp , have been very positive, with the REITs being the biggest surprise. Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel , to its Latitudes: Lifestyle by Crescent collection. Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta , from affiliates of Marriott Vacations Worldwide .