Tuesday, February 28, 2023
North America

Belmond and the Cipriani Family Make Peace

  • RLJ Lodging Trust reported in-line results with some limited guidance they gave in January at ALIS.
  • Summit Hotel Properties reported 4Q results ahead of estimates with strong earnings contributions from the recently acquired properties, including NewcrestImage.
  • Argus Research upped their rating on Airbnb to Buy from Hold with a $144 price target.

The DJIA ended today down 232 points while Nasdaq was down 11, the S&P 500fell 12 points and the 10-year treasury yield was down .01 to 3.92%. Lodging stocks were modestly lower. SVC traded up to a new high but ended the day in the red. MCG was the big winner, up 7% while INN was down -7% despite earnings that seemed […]