Marriott Cleared to Acquire City Express Portfolio

• If you are wondering about who in the sector has exposure to the collapse of Silicon Valley Bank, Sonder Holdings confessed to having $2 million in an operating cash account and approximately $20 million in deposit accounts with SIVB.
• Marriott International, Inc. received approval from Mexico’s Federal Economic Competition Commission for the acquisition of the City Express brand portfolio from Hoteles City Express, S.A.B. de C.V.
• According to a new report from HVS, hotel operators need to learn to manage the entire building they operate and start thinking of performance in terms of the total revenue or profit per available square meter.

The DJIA ended Friday down 345 points although individual stocks seemed to be down a lot more than the major ones in the indexes. Nasdaq fell 199, the S&P 500was down 57 points and investors surged into treasuries as a safe haven, dropping the yield on the 10-year by .23 to 3.70%. Lodging stocks were lower with the exception of MCG which […]