SVB Collapse Doesn’t Impact Booking or Pricing

• Truist said they have seen no noticeable changes to overall corporate booking and pricing trends in the first 10 days following the collapse of Silicon Valley Bank.
• On March 20, Membership Collective Group commenced trading on the NYSE under its new name and ticker, Soho House & Co Inc. / SHCO.
• In a joint venture, NewcrestImage and Hospitality Capital Partners have acquired 16 hotels with a total of 2,155 rooms for $137.3 million from Service Properties Trust.

The DJIA ended Friday with a gain of 132 points while Nasdaq was up 37, the S&P 500 was up 22 points and the 10 year treasury yield was down another .03 to 3.38%. Lodging stocks were modestly higher although the biggest movers were the new age group, to the downside. SOND fell another -6% to another new all time low while SLNA and SHCO were […]