Waikiki

Ryman Hospitality Properties beat 3Q EBITDA estimates while giving a small 4Q guidance raise. Lodging stocks were mixed. SOND rose 8% but Selina (SLNA) plunged another -23% and is now down to near where it was in price when they completed the merger with BOA. Timeshare is definitely a mixed bag this earnings season. Following up on TNL’s disappointing results, Marriott Vacations gave a mixed 3Q along with guidance that seems mixed as well.

The  DJIA  fell 139 points on Friday while  Nasdaq  was down 104, the  S&P 500  fell 28 points and the  10-year treasury yield  was down .01 to 3.45%. Citigroup cut its rating on IHG Hotels & Resorts to Sell from Neutral. Citi believes the incomplete recovery in corporate travel will weigh on IHG’s RevPAR. Berenberg , on the other hand, sees hotels as the top travel play . The brokerage firm says concerns about the hotel industry are overblown and the outlook for RevPAR for 2023 and 2024 will strengthen further.