U.S. Rates Are Higher But Not Back to 2019

• Airbnb saw its rating cut at Baird to Neutral from Outperform. Baird lowered their price target to $100 from $120.
• The U.S hotel industry reported higher performance from the month prior but weakened comparisons with 2019, according to October 2022 data from STR.
• Through Q3 2022, the U.S. hotel industry exceeded 2019 RevPAR levels by 6.4%, based on data from STR.

The DJIA jumped 398 points while Nasdaq was up 150, the S&P 500 rose 54 points and the 10-year treasury yield was down .07 to 3.76%. So much for a calm, short week. Lodging stocks were modestly higher. Due to the upcoming Thanksgiving Day Holiday, the next Daily Lodging Report – North America will be Sunday, November 27. Happy Thanksgiving to all that celebrate. […]