In January, Toronto hotels charged slightly more than Vancouver’s amid rising rates and lower occupancy nationwide, with Edmonton notably lagging behind.
Ryman and Apple Hospitality both reported earnings beats, with Ryman raising its dividend and Apple buying back shares and tightening guidance, while Summit grew results despite hurricanes.
DJIA, Nasdaq, and S&P 500 all experienced declines while the 10-year treasury yield rose to 4.32%. Lodging stocks had mixed performance.
Truist updated price targets for lodging/hotel group stocks, with several adjustments both up and down.
Various hotels announced renovations, expansions, and new locations, including the Westin Denver Downtown, Hyatt's growth plans, and the EV Evolution Venue Hotel in Tampa and Washington, DC.
