Monday, October 17, 2022
North America

Lodging Stocks End Higher While Hotel Index Stock Drops

  • The DJIA jumped 551 points today while Nasdaq was up 354, the S&P 500 was up 95 points and the 10-year treasury yield was up .01 at 4.02%.
  • The Baird/STR Hotel Stock Index fell -9.1% in September. Despite continued strong RevPAR, both year over year and 2019 comps, the stock index has dropped -20.6% in the first 9 months of the year.
  • Driftwood Capital broke ground on the Element by Westin, a new 130-key extended-stay hotel located on prime oceanfront property in Melbourne, FL.

The DJIA jumped 551 points today while Nasdaq was up 354, the S&P 500 was up 95 points and the 10-year treasury yield was up .01 at 4.02%. Lodging stocks were higher. VCSA was up 10%, SOND was up 8%, ABNB was up 7% and SVC was up another 5%, still sporting a dividend yield of more than 10% even after a 33% […]