New York Hotel Union Marks Historic Victory

• Craig-Hallum initiated coverage of LuxUrban Hotels with a Buy rating and a $10 price target.
• A New York hotel union reached a deal with hotel owners and operators, boosting the wages of hospitality workers by $7.50 an hour, the largest increase in the union’s 100-year history.
• Beginning this month, Waldorf Astoria Orlando in Florida will undergo a comprehensive, multi-phase re-imagination expected to debut in December 2023.

The DJIA rose 98 points, Nasdaq was down 52, the S&P 500 was flat, and the 10-year treasury yield was up .06 to 3.43%. Lodging stocks were modestly higher. SLNA was up 6%, but SOND traded down to yet another new all-time low. Craig-Hallum initiated coverage of LuxUrban Hotels with a Buy rating and a $10 price target. A New York hotel union reached a deal with hotel […]