Highgate Will Purchase Viceroy Hotels

• JP Morgan said they see more compelling value and better risk-rewards in gaming versus lodging, given better values and differing sets of investors’ expectations for fundamentals.
• Barclays gave their US Gaming, Lodging & Leisure outlook, saying their preference is the Cruise Lines out of the sub-sectors.
• Highgate has entered into a definitive agreement to purchase Viceroy Hotels & Resorts.

The DJIA fell 764 points, Nasdaq was down 360, the S&P 500 fell 100 points and the 10 year treasury yield was down .05 to 3.45%. Lodging stocks were lower.  AHT and MCG were down -6%, while VCSA was down -5%, SLNA traded down to a new low. JP Morgan gave their Gaming & Lodging 2023 outlook. JPM said they see more […]