RevPAR Tracker Sees No Recession-Driven Pullbacks

• The DJIA was up 436 points, Nasdaq was up 247, the S&P 500 was up 72 points and the 10-year treasury yield was down .08 to 3.27%.
• Truist Securities published their RevPAR tracker, saying based on their analysis, they have yet to observe any “recession-driven” pullbacks and see the greatest degree of booking and pricing momentum coming from the corporate group segment.
• Hotels in the top 25 markets across the U.S. were the hardest hit by the pandemic-induced demand downturn but have come back with a vengeance.

You can take your pick on whether today was an oversold or a relief rally. Either way, the DJIA was up 436 points, Nasdaq was up 247, the S&P 500 was up 72 points and the 10-year treasury yield was down .08 to 3.27%. Lodging stocks had a nice bounce led by HT with a 9% gain, MCG up 8%, RHP up 7% […]