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North America
Global Hotel Groups Are Sitting on Piles of Cash
The DJIA rose 61 points, Nasdaq was up 50, the S&P 500 was up 12 points and the 10-year Treasury yield is quickly rising to where it peaked in June, up another .05 to 3.11%. STR said US RevPAR for the week ended 8/20 was up 16.9% versus the same week last year. Global hotel groups are holding near-record amounts of cash. Seven of the best-known hotel groups were collectively sitting on about $7.3 billion in cash and short-term investments as of the end of June . -
North America
Global Travel Prices to Increase Through 2023
The DJIA surged 515 points, Nasdaq was up 361, the S&P 500 was up 88 and suddenly the 10 year treasury yield is calm and the indexes are nuts again. STR said US Lodging RevPAR was up 12.2% year over year for the week ended 8/6. Global travel prices are predicted to continue to increase in the remaining months of 2022 and throughout 2023, according to the 2023 Global Business Travel Forecast. -
North America
CBRE Says ADR Will Moderate in Second Half of Year
The equity indexes have really calmed down while treasuries get really volatile. Lodging stocks were higher. AINC was the big mover, up 11%. SMBC Nikko cut its rating on Park Hotels & Resorts to Neutral from Outperform. Its price target is $16. The CBRE Hotels Research State of the Union showcases current demand trends, as well as fundamentals by segment, location type and chain scale.