Weakening or Strengthening? Hotel Performance Forecasts
- Raymond James warned that inflation and a dimming economic outlook could begin to weigh on travel starting in the fourth quarter.
- STR and Tourism Economics adjusted occupancy slightly downward but maintained previous projections for ADR and RevPAR in their final U.S. hotel forecast revision of 2022.
- Following seasonal patterns, Canada’s hotel performance fell from the month prior but the ADR and RevPAR were higher than the pre-pandemic comparables
The DJIA fell 498 points as investors did not like one of the members of the Fed’s comments about continuing to raise interest rates. Nasdaq was down 177, the S&P 500 fell 62 points and the 10-year treasury yield was up .01 to 3.70%. Lodging stocks were lower. SLNA fell -8% to a new low, VCSA was down -7%, also to a new […]