Sonesta to Reflag Two Properties to The James Brand
- Lodging stocks were mixed but the biggest movers were to the upside. VCSA and SLNA both rose 6% on the day.
- The Baird/STR Hotel Stock Index fell -10% in December. That put all of 2022 down -15% from 2021. The Hotel Brand sub-index was down -9.2% in December from November while the Hotel REIT sub-index was down -12.8%
- Sonesta International Hotels Corporation announced the expansion of its global development strategy to include The James brand as part of the Sonesta Franchise portfolio in the U.S. and in Latin America.
The DJIA rose 113 points on Friday while Nasdaq was up 78, the S&P 500 rose 16 points and the 10 year treasury yield was up .06 to 3.51%. Lodging stocks were mixed but the biggest movers were to the upside. VCSA and SLNA both rose 6% on the day. Goldman Sachs cut its price target on Airbnb to $87 from $98. It maintained its Sell […]