Sunday, August 21, 2022
North America

Lodging Stocks End the Week on a Down Note

  • The Baird/STR Hotel Stock Index was up 14.3% in July. Year to date the first seven months of 2022, the stock index is still down by -10.4%.
  • According to Bloomberg, the Abu Dhabi Investment Authority is exploring options, including a possible sale of the Miami Beach Edition hotel.
  • AC Hotels by Marriott announced the opening of the new AC Hotel by Marriott Monterrey Valle, its first hotel in the city of Monterrey, Nuevo Leon

The DJIA fell 292 points on Friday while Nasdaq was down 260, the S&P 500 fell 55 points and the 10-year Treasury yield was up .11 to 2.99%. Lodging stocks were lower. AHT and VCSA led the group down with declines of -12% and -11% respectively. MCG was down -6%. SOHO, SVC, INN, BHR, ABNB, SOND, PEB and DRH each fell -5% on […]