Hotel Asset Sales Pick Up
- Jefferies said the looming recession and stabilizing credit market could be positive for the prospects of timeshare, but with a harder landing not off the table, they see stocks trading at rich valuations.
- Truist said with earnings season about to kick into gear for the lodging sector, they continue to see macro over micro.
- Park Hotels and Resorts Inc. closed on the sale of the 508-room Hilton Miami Airport, located in Miami, Florida, for $118.25 million.
The DJIA fell 128 points on Friday while Nasdaq was down 194, the S&P 500 fell 43 and the 10-year treasury yield bounced higher by .14 to 3.53%. Lodging stocks were mostly lower. MCG was the mover of note, up 5%. Jefferies said the looming recession and stabilizing credit market could be positive for the prospects of timeshare, but with a harder landing not […]