Wednesday, March 22, 2023
North America

U.S. Interest Rate Increase Pushes Lodging Stocks Lower

  • STR gave U.S. lodging data for the week ended 3/18. US hotel RevPAR rose 10.4% year over year. When compared with the same week in 2019, US hotel RevPAR was up 20.8%.
  • We can’t tell if the markets genuinely hate U.S. Fed Chief Jerome Powell or if the guy should just have a stand-in for his press conferences.
  • Redburn Partners lowered its rating on InterContinental Hotels Group to Sell. UBS Group downgraded shares of Melia Hotels International from a Buy rating to a Sell rating.

The U.S. Federal Reserve Board raised interest rates by a quarter of a point and the financial markets rallied. Then Fed Chief Jerome Powell held his press conference and the DJIA ended the day down 530 points, Nasdaq was down 190, the S&P 500 fell 66 points but the 10-year treasury yield was down .11 to 3.50%. We can’t tell if the markets genuinely hate […]

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In Today's Issue - North America

Companies

Apple Hospitality REIT, Argosy Real Estate Partners, Ashford Hospitality Trust, Club Med, Courtyard by Marriott, Embassy Suites by Hilton, Great Wolf Resorts, Hampton by Hilton, Hilton Hotels & Resorts, Hospitality America, Inc., Hyatt Hotels Corporation, Hyatt House, IHG Hotels & Resorts, Marriott Hotels, Marriott International, Melia Hotels International, Midamerica Hotels Corp, Paramount Lodging, Peachtree Group, Pebblebrook Hotel Trust, Prime Group, Sonder Holdings Inc., Sonesta International Hotels Corporation, SpringHill Suites, St. Regis, Sunstone Hotel Investors, Inc., Synergy Hospitality Management, Tapestry Collection by Hilton, The James, The Royal Sonesta, Tru by Hilton, Vacasa, Windsor Aughtry Hotel Group, Xenia Hotels & Resorts

Locations

Denver, Florida, Maui, Miami, Missouri, New Hampshire, New York, New York City, Philadelphia, Utah, Virginia