July Room Rates Hit New High

• According to July 2022 data from STR, the U.S. hotel industry reported record-high monthly room rates on a nominal basis.
• Raymond James believes the recovery in global travel still has plenty of room to run. They believe this is the earliest stage of what is set up to be a multi-year fundamental recovery in global travel.
• A 13-F filing from Sunstone Hotels showed Blackstone Group had taken a 4.1% stake in SHO.

The DJIA fell 643 points while Nasdaq was down 2.6% or 324 points while the S&P 500 fell 90 points. The 10-year treasury yield was up .05 to 3.04%. When it comes down to it, interest rates drive equity declines or gains. Lodging stocks were lower. AHT was the big mover, down -8%. Raymond James believes the recovery in global travel still has plenty […]