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North America
Shipping Container Hotel Coming to Indianapolis
The Baird/STR Hotel Stock Index was up 16.4% in January from December. The Hotel Brand sub-index was up 16.2% and the Hotel REIT sub-index rose 17.1%. Hilton, Easton’s Group of Hotels and the Gupta Group announced the opening of Canopy by Hilton Toronto Yorkville, marking the brand’s Canadian debut. The DJIA rose 130 points on Friday while Nasdaq was down 69, the S&P 500 was down 11 points and the 10 year treasury yield took a breather, down -0.4 to 3.83%. Lodging stocks were lower. -
North America
Baird’s 2023 REIT Outlook Is Cautious
Lodging stocks were higher with the only big mover of note once again being AHT, up another 6%. Baird gave their 2023 Hotel REIT outlook saying they are taking a more balanced approach in early 2023 as macroeconomic risks and growing expense pressures keep them selective. STR announced U.S. lodging data for the week ended January 7th. Year over year RevPAR was up 21.8% on easy comps due to holiday/school timing and the Omicron outbreak last year. -
North America
The Current State of Vacation Ownership
The DJIA rose 56 points while Nasdaq was up 162, the S&P 500 rose 35 points and the 10 year treasury yield fell .07 to 3.80%. Lodging stocks were modestly higher. Truist published a report on Vacation Ownership following 3Q results from the public companies involved in the segment. Genuine Hospitality announced the opening of Tru by Hilton Naperville Chicago , the first Tru by Hilton in Illinois. -
North America
Selina Plunges on Second Trading Day
Pebblebrook Hotel Trust reported sold 3Q22 earnings, but since they give monthly updates and pre-announced, there was no surprise. While lodging stocks were higher, the action in Selina on Friday was just as ridiculous as on Thursday but in the other direction. While Travel + Leisure’s stock price rebounded a little bit after Thursday’s earnings-induced decline, Credit Suisse lowered the boom on them. -
North America
Canada’s Hotel Pipeline for Q2 2022
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.