NewcrestImage Plans to Acquire 100+ Hotels This Year

• NewcrestImage has plans to acquire more than 100 hotels this year, reported CoStar. So far in 2023, the company has finalized its purchase of a 45-hotel portfolio in 11 states.
• Key International and Shaner Hotels announced the grand opening of the 156-suite SpringHill Suites by Marriott Jacksonville Beach Oceanfront in Florida.
• Midas Hospitality announced the opening of the 170-room Residence Inn by Marriott, the first hotel to be built in Clayton, Missouri, in 30 years.

The DJIA was added 0.1% while Nasdaq slid less than 0.1%, the S&P 500 added 0.1% compared with Friday and the 10-year treasury yield ended at 3.414%, up slightly from Friday. Lodging stocks were mostly higher, including even ABNB getting a modest boost. SOND remained near its low. NewcrestImage has plans to acquire more than 100 hotels this year, reported CoStar. So far in 2023, […]