Wisconsin

Airbnb saw its rating cut at Baird to Neutral from Outperform. Baird lowered their price target to $100 from $120. The U.S hotel industry reported higher performance from the month prior but weakened comparisons with 2019 , according to October 2022 data from STR . Through Q3 2022 , the U.S. hotel industry exceeded 2019 RevPAR levels by 6.4%, based on data from STR.

The DJIA rose 334 points, Nasdaq was up 52, the S&P 500 rose 21 points and the 10 year treasury yield was down .09 to 4.13%. Apple Hospitality reported a modest beat with RevPAR up 7.5% versus 3Q19. In September and October APLE bought back a modest amount of stock just above $14 a share. Sunstone Hotel Investors reported a slight 3Q beat. SHO continues to be a buyer of their own stock under $10.

The DJIA plunged 630 points on Friday while Nasdaq was down 421, the S&P 500fell 105 points and the 10 year treasury yield jumped .06 to 3.88%. Lodging stocks were lower. Data recently released by the National Travel and Tourism Office showed in August, international visitors spent more than $13.7 billion on travel to, and tourism-related activities within, the U.S. Jefferies lowered their price target on  Hersha Hospitality to $12 from $13 and  Sunstone Hotel Investors  to $11 from $12.