ClubMed Celebrates Its Birthday With Expansion

• Club Med is celebrating its seventy-second birthday as it expands to even more places around the globe.
• Deutsche Bank gave its first broad-based downward revision to hotel REIT estimates since the travel recovery began in spring 2021.
• The growing demand for luxury branded residences is stronger than ever, especially in Florida.

The DJIA jumped 337 points, Nasdaq was up 247, the S&P 500 rose 62 points and the 10-year treasury yield fell by .13 to 4.11%. Lodging stocks were higher. VCSA was up 10% while SOND and BHR both rose 6% on the day. Deutsche Bank gave its first broad-based downward revision to hotel REIT estimates since the travel recovery began in spring 2021. DB is going […]