STR Lifts U.S. ADR Projections

• Truist lowered target prices on their vacation ownership names despite publishing a positive report on their beat and raise quarters along with the continued return of capital.
• STR and Tourism Economics adjusted occupancy downward but lifted projections once again for ADR in the revised U.S. hotel forecast just presented at the Hotel Data Conference.
• Mission Hill Hospitality has acquired the Courtyard by Marriott Lenox and Hampton Inn & Suites Berkshire-Lenox, located in the heart of the Berkshire region of Western Massachusetts.

The DJIA rose 424 points on Friday while Nasdaq was up 267, the S&P 500 rose 73 points and the 10-year treasury yield was down .04 to 2.85%. Lodging stocks were higher. VCSA once again led the group, up 19%, while SOHO continued its recent rebound, up another 8% on Friday. Truist lowered target prices on their vacation ownership names despite publishing a positive […]