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North America
DiamondRock Beats Preliminary Results
DiamondRock Hospitality reported 3Q results, beating the preliminary results they announced two weeks ago. Jefferies cut its rating on Xenia Hotels & Resorts to Hold from Buy. Lodging stocks were mixed. SLNA plunged another -20%, quickly becoming the biggest disaster in a long line of SPAC disappointments in the past year -
North America
Lodging Stocks Lower Despite Strong Earnings
Lodging stocks were lower again. SLNA looks like it is going to go down to penny stock status, down another -28% to another new low. The last 24 hours had a barrage of earnings reports and not many of them were taken well. Hyatt was picked as the best of the group even with results some deemed as weaker than expected which says a lot about the other reports. Marriott’s 3Q was in line but net rooms growth was trimmed for the full year with China blamed. -
North America
Selina Surges on First Day of Trading
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. -
North America
Early October U.S. Hotel RevPAR Up 13% Over Same Period 2019
The DJIA fell 28 points, Nasdaq was down 9, the S&P 500 fell 12 points and the 10-year treasury yield was down .04 to 3.90%. Braemar Hotels & Resorts Inc . reported the company expects to report occupancy of approximately 71% for the third quarter of 2022 with an ADR of approximately $403 resulting in RevPAR of approximately $288. Ashford Hospitality Trust, Inc . announced the company expects to report occupancy of approximately 71% for the third quarter of 2022 with an ADR of approximately $179 resulting in RevPAR of approximately $127. -
North America
Lodging Stocks Hit New Lows While RevPAR Continues to Impress
The Fed Sell Off continues in the financial markets as the DJIA fell another 486 points on Friday, Nasdaq was down 199, the S&P 500 fell 65 points and the 10-year treasury yield was down .01 to 3.70%. In New York City, the Skift (parent company of this publication) conference generated a lot of headlines, the biggest one being Barry Diller of IAC once again trashing working from home. Lodging stocks are hitting new lows, while RevPAR continues to impress. -
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
U.S. Group Bookings Increase While Biz Travel Lags
The DJIA rose 323 points while Nasdaq jumped 208, the S&P 500 rose 59 points, and the 10-year Treasury yield took a breather, down .08 to 3.03%. Inflation, energy prices, supply chain challenges, labor shortages, and regional developments are pushing the forecast for full recovery into 2026, instead of the previously forecasted 2024. According to the latest monthly data from STR and CoStar , the number of groups booking U.S. hotel rooms continued to increase in June, although individual business travel continued to lag. -
North America
Hotel Acquisitions Cool in Northern California
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.