IHG to Get New CEO Elie Maalouf
- InterContinental Hotels Group announced Keith Barr has informed the Board of his decision to step down from his role as Group Chief Executive Officer and from the IHG Board.
- Playa Hotels & Resorts reported a 1Q beat and repurchased 5 million shares for $42.6 million in 1Q as well as another 2.1 million shares for $20 million in April.
- During Q1 2023, RevPAR grew 13% compared to 2019, fueled by higher ADR and growth in business and group demand as well as strong leisure travel, according to JLL’s latest U.S. Hotel Investment Trends report.
The DJIA rose 547 points on Friday while Nasdaq was up 269, the S&P 500 rose 75 points and the 10-year treasury yield was up .10 to 3.45%. Lodging stocks were higher. VCSA was up 12% while SOND was up 10% but both of them rose less than a dime per share. On the earnings side, RLJ’s reaction was positive, up 5%, while […]