Vegas Strip Operators Accused of Price Colluding 

• Lodging stocks were modestly higher. The biggest movers included ABNB and SOHO both rising 5% while SONDwas down -6% on the day.
• Hotel Asset Value Enhancement gave their findings of the ALIS conference.Attendees believe the frustrating transaction market will change in the second half of this year and that there will be more transactions than foreclosures this year.
• A class-action lawsuit filed Wednesday alleges that four of the main Las Vegas Strip resort operators colluded, via data-sharing software, to artificially inflate the prices of their hotel rooms.

The DJIA rose 206 points while Nasdaq was up 199, the S&P rose 44 points and the 10 year treasury yield was up .03 to 3.49%. Lodging stocks were modestly higher. The biggest movers included ABNB and SOHO both rising 5% while SOND was down -6% on the day. Hotel Asset Value Enhancement gave their findings of the ALIS conference. Attendees believe the frustrating transaction market will change in the […]