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North America
Market Surges and Airbnb Lawsuit
Market surge: DJIA and Nasdaq experience significant gains, with the DJIA surging 701 points and the stronger-than-expected jobs report contributing to the rise. Airbnb lawsuit: Airbnb files a lawsuit against New York City over a new law that the company claims will limit short-term rentals and make it more difficult for hosts to do business. Hotel openings and acquisitions: Several hotel brands announce new openings and acquisitions, including WoodSpring Suites, Sonesta, and Margaritaville, expanding their presence in different cities and states. -
North America
New Builds, Conversions and Proposals to Start the Year
The DJIA fell 350 points, Nasdaq was down 154, the S&P 500 fell 45 points and the 10-year treasury yield was up .01 to 3.72%. Mizuho cut their price target on Airbnb to $110 from $125. They maintained their Neutral rating on the stock. STR reported US lodging data for the week ended 12/31. US hotel RevPAR was up 4.2% year over year while up 35.6% versus the same week in 2019.