Wednesday, December 7, 2022
North America

Morgan Stanley Sees Airbnb’s Property Supply Slowing

  • Morgan Stanley cut their rating on Airbnb to Underweight from Equal Weight, slashing its target price to $80 from $100.
  • Marriott International announced plans to introduce more than 35 luxury hotels in 2023 to its portfolio of luxury brands.
  • STR reported US lodging data for the week ended 12/3. Hotel RevPAR was up 11.7% year over year while up 1.2% versus 2019.

The DJIA rose 2 points while Nasdaq was down 56, the S&P 500 fell 7 points and the 10 year treasury yield plunged another .11 to 3.41%. Lodging stocks were mixed. MCG was the big mover, down -8% while VCSA traded down to another new low before bouncing a bit. Morgan Stanley cut their rating on Airbnb to Underweight from Equal Weight, slashing its target price to $80 […]

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In Today's Issue - North America

Companies

Accor, Aimbridge Hospitality, Airbnb, Avion Hospitality, Azul Hospitality Group, Bulgari Hotels & Resorts, DeSimone Gaming Inc., DiamondRock Hospitality Company, Edition Hotels, Fairfield Inn & Suites, Gulph Creek Hotels, Hilton Hotels & Resorts, Holiday Inn Express, Home2 Suites by Hilton, Hyatt Hotels Corporation, Hyatt Regency, IHG Hotels & Resorts, JW Marriott Hotels & Resorts, Le Meridien, Marriott International, Matthews Southwest Hospitality, MGallery Hotel Collection, Red Roof, Red Roof Inn, Ritz-Carlton, RLJ Lodging Trust, Secrets Resorts & Spas, Soho House and Co Inc., St. Regis, Tapestry Collection by Hilton, The Luxury Collection Hotels & Resorts, The Ritchie Group, TownePlace Suites, Vacasa, W Hotels, Waldorf Astoria Hotels & Resorts, Zoetry

Locations

Alabama, Calgary, California, Chicago, Georgia, Louisiana, Mexico, Nevada, Oklahoma, Pennsylvania, Seattle, St. Lucia, Utah, Virginia