Sunday, April 2, 2023
North America

The Hotel Sector Rebound Rolls on

  • DJIA, Nasdaq, and S&P 500 all rose on Friday, and lodging stocks saw gains as well.
  • New properties were acquired or announced in Montana, Atlanta, Ohio, Texas, Colorado, and Madrid.
  • Multiple hotels were sold, and Blackstone secured a €680 million loan for Hotel Investment Partners.

The DJIA rose 415 points on Friday while Nasdaq was up 208, the S&P 500 rose 58 points and the 10-year treasury yield was down .06 to 3.49%. Lodging stocks were higher. VCSA and AHT both rose 7% while PK, RLJ and SHO rose 5% each. Evermore Partners and New Castle Hotels & Resorts have acquired the Montana Marriott Portfolio – a 105-key AC Hotel by […]