Aimbridge Acquires 71 Terrapin Management Contracts

• Aimbridge Hospitality has acquired the management arm of Terrapin Hospitality, with 71 hotels located in 21 states. This aggregates to over 8,100 keys transitioning to Aimbridge management.
• B.Riley lowered their price target on Ashford Inc. to $14 from $18, they maintained their Neutral rating on the stock.
• IHG Hotels & Resorts announced the opening of a new Holiday Inn Express & Suites Hotel in Glendale, California.

The DJIA rose 316 points, Nasdaq was up 185, the S&P 500 rose 51 points and it did not take long for the 10-year treasury yield to move back up, with the yield rising .13 to 3.61%. Lodging stocks were higher. AINC was the biggest mover, rebounding 13% while VCSA bounced 12%. SLNA traded down to a new low before bouncing a bit. […]