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North America
Short-Term Rental Demand Is Up
The DJIA ended the day down 280 points while Nasdaq was down 67, the S&P 500 fell 31 points and the 10 year treasury yield was up .02 to 3.13%. Lodging stocks were lower. MCG fell -8% today and hit a new all time low. SOND was up 5%. STR said U.S. hotel RevPAR for the week ending August 27 th was up 18.2%. RevPAR versus the same week in 2019 was up 12.1%. Speaking during a session at the Hotel Data Conference , AirDNA Director of Product Max Bernstein said as of June 2022, demand for short-term rentals is up 21% indexed to 2019 -
North America
Business Travel Will Return to Pre-Pandemic Levels by Late 2023
The DJIA fell 154 points but Nasdaq was flat while the S&P 500 fell 9 points and the 10-year Treasury yield was up .02 to 3.05%. Citigroup upped its price target on Sunstone Hotels to $12 from $10.50. Morgan Stanley upped its price target on Airbnb to $125 from $100.