Thursday, January 19, 2023
North America

U.S. Hotel Construction Increased in December

  • After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December.
  • Wells Fargo cut their price target on Airbnb to $130 from $165. They maintained their Overweight rating.
  • STR said US hotel RevPAR the week ended 1/14 was up 33.1%. RevPAR was up 9.4% versus the same week in 2019.

The DJIA fell 252 points, Nasdaq was down 105, the S&P 500 fell 30 points and the 10-year treasury yield was up .02 to 3.40%. It seemed like there were more lodging stocks in the green than the red despite the overall market. The two biggest movers were to the downside with SLNA down -7% and VCSA falling -6% on the day. Wells […]