REITs Remain Cautious About Corporate Travel

• MCG and INN both were up 6% while SVC and SLNA were up 5% each. SOND fell -5% on the day.
• Xenia Hotels & Resorts announced its board of directors authorized the repurchase of up to an additional $100 million of the company’s outstanding common shares. With the additional authorization
• U.S. lodging REIT management teams did express concerns about cracks in demand forming with technology customers soon after recent layoff announcements.

The DJIA ended Friday with a gain of 199 points while Nasdaq was up a point, the S&P 500 rose 19 points and the 10-year treasury yield was up .04 to 3.82%. Lodging stocks were higher. MCG and INN both were up 6% while SVC and SLNA were up 5% each. SOND fell -5% on the day. Xenia Hotels & Resorts announced its board […]