California Hotel Sales Cool Off

• The DJIA fell 338 points on Friday while Nasdaq was down 154, the S&P 500 was down 43 points and the 10 year treasury yield was down .07 to 3.19%.
• After a record-breaking 2021 for hotel sales in California, hotel transaction have cooled off in the state in the first six months of this year.
• ore and more Baltimore hotels are slated to become apartments. In Downtown Baltimore, at least a half dozen hotels have closed and sold to a new owner within the past two and a half years.

The DJIA fell 338 points on Friday while Nasdaq was down 154, the S&P 500 was down 43 points and the 10 year treasury yield was down .07 to 3.19%. Lodging stocks did better than the overall market with a mixed bag. SOND was up 7%, AHT was up 6% but VCSA was down -5% to lead the biggest movers. IN OBSERVANCE OF […]