Raines Buys HP Hotels, Hilton to Expand in France

• Raines announced they acquired HP Hotels, a full-service, third party hotel management company. Raines said this will result in operational expansion throughout the Southeast and Southwestern U.S.
• The Courtyard by Marriott Long Beach Downtown announced the addition of two Topgolf Swing Suites at their 216-room hotel.
• Borgata Hotel Casino & Spa, in Atlantic City, New Jersey, is embarking on a $55 million redesign and rebranding of The Water Club, in time for the resort’s twentieth anniversary.

The DJIA rose 336 points today while Nasdaq was up 239, the S&P 500 was up 65 points and the 10-year treasury yield bounced back .12 to 3.64%. Lodging stocks were higher. VCSA led with a gain of 6% while SLNA was up 5%. BVH continued its decline, down another -6% today. Raines announced they acquired HP Hotels, a full-service, third party hotel […]