Wednesday, May 3, 2023
North America

Apple Hospitality and Xenia Hotels Beat Expectations

  • Apple Hospitality and Xenia Hotels were the next up to report earnings. APLE beat expectations and continues to be one of the few hotel REITs reporting EBITDA above 2019 levels.
  • XHR also beat expectations on a higher top line with RevPAR growth of 23.9%.
  • STR reported US lodging data for the week ended April 29. Year over year hotel RevPAR was up 5.6%.

The DJIA fell 270 points while Nasdaq was down 55, the S&P 500 fell 29 points and the 10-year treasury yield was down .04 to 3.40%. Things were going ok until the Fed Chief held his conference call after raising rates again. The same thing happened that has happened nearly every one of his conference calls the past year or so. AHT was […]