Wells Fargo Changes Lodging Coverage

• The DJIA fell 184 points, Nasdaq was down 124, the S&P 500 was down 27 points and the 10-year treasury yield was up .08 to 3.11%.
• Wells Fargo made a few changes to their coverage of lodging names. They cut their ratings on Hersha Hospitality, DiamondRock Hospitality and Pebblebrook Hotel Trust to Equal Weight from the previous Overweight ratings
• Four Seasons Hotels and Resorts unveiled its new brand creative platform, Luxury Is Our Love Language, celebrating the brand’s unique and energetic perspective on the definition of luxury.

The DJIA fell 184 points, Nasdaq was down 124, the S&P 500 was down 27 points and the 10-year treasury yield was up .08 to 3.11%. That was enough to tell you it wasn’t a good day for lodging stocks even before Wells Fargo made their changes to their coverage that you will see below. While nearly every lodging stock we follow was […]