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North America
Upbeat Mood and News Frenzy at ALIS
Truist said they are finding the sentiment at the ALIS Lodging Conference as mostly positive , with lots of “hope” that the most well-anticipated recession in the history of recessions will be a mild one. STR and Tourism Economics made a modest upgrade to the 2023 U.S. hotel forecast released at ALIS. Four Seasons said they started 2023 with new leadership, brand extensions and strategic portfolio growth. -
North America
Lodging Stocks End Higher While Hotel Index Stock Drops
The DJIA jumped 551 points today while Nasdaq was up 354, the S&P 500 was up 95 points and the 10-year treasury yield was up .01 at 4.02%. The Baird/STR Hotel Stock Index fell -9.1% in September. Despite continued strong RevPAR, both year over year and 2019 comps, the stock index has dropped -20.6% in the first 9 months of the year. Driftwood Capital broke ground on the Element by Westin , a new 130-key extended-stay hotel located on prime oceanfront property in Melbourne, FL .