U.S. Lodging Stocks Are in Safe Mode

• Ryman Hospitality Properties became the latest lodging REIT to reinstate something more than a token dividend.
• CBRE Hotels said they are raising their forecast for hotel performance on the heels of industry gains in Q2 2022 and the expectation of slightly positive GDP growth in 2023.
• Wolfgramm Capital has acquired the Waldorf Astoria Park City hotel in Park City, UT. The property was acquired off-market and as part of an all-cash deal.

The DJIA fell 171 points while Nasdaq was down 86, the S&P 500 was down 16 points but the 10-year treasury yield surged again, up .14 to 3.34%. Lodging stocks were mostly lower. While AHT was the biggest mover, down -6%, VCSA and AINC were both up 5%. CHH fell -5% to a new low and MCG also traded down to a new […]