JP Morgan upgraded their rating on Accor to Neutral from Underweight with a price target of €30, up from €24.50.
Hyatt Hotels Corporation and Mr & Mrs Smith announced an agreement for a Hyatt affiliate to acquire Mr & Mrs Smith, a platform offering direct booking access to boutique hotels.
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.
