Summer Tourism Spending in U.S. Spikes YoY

• The DJIA plunged 630 points on Friday while Nasdaq was down 421, the S&P 500fell 105 points and the 10 year treasury yield jumped .06 to 3.88%. Lodging stocks were lower.
• Data recently released by the National Travel and Tourism Office showed in August, international visitors spent more than $13.7 billion on travel to, and tourism-related activities within, the U.S.
• Jefferies lowered their price target on Hersha Hospitality to $12 from $13 and Sunstone Hotel Investors to $11 from $12.

The DJIA plunged 630 points on Friday while Nasdaq was down 421, the S&P 500 fell 105 points and the 10 year treasury yield jumped .06 to 3.88%. Lodging stocks were lower. MCG fell 5% while PLYA traded down to another new low. Jefferies lowered their price target on Hersha Hospitality to $12 from $13 and Sunstone Hotel Investors to $11 from $12. They maintained their Buy […]