Monday, May 22, 2023
North America

Service Properties Trust Completes Sale of TravelCenters to BP

  • Last week BP plc completed the acquisition of TravelCenter of America Inc. Service Properties Trust received $379.3 million in cash as part of the transaction.
  • Sonder Holdings was cut to Perform from Outperform by Oppenheimer and InterContinental Hotels Group was upgraded to Neutral from Sell by Redburn.
  • The Baird/STR Hotel Stock Index rose 1.4% in April from March. The Hotel Brand sub-index rose 2.5% from March while the Hotel REIT sub-index was down -2.6%.

The DJIA fell 140 points but Nasdaq was up 63, the S&P 500 managed a 1 point gain and the 10 year treasury yield was up .03 to 3.72%. Lodging stocks were mostly lower. SOND was the biggest loser, down another -10% whole SLNA traded down to a new all time low, down -6% on the day. Sonder Holdings was cut to Perform from […]

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In Today's Issue - North America

Companies

21c Museum Hotel, Aimbridge Hospitality, Ashford Hospitality Trust, Autograph Collection, Avion Hospitality, Benchmark Resorts & Hotels, Best Western, Best Western Hotels & Resorts, Choice Hotels International, Coast Hotels Limited, Comfort, Disney Parks, Elevations Hotels and Resorts, Embassy Suites by Hilton, Ennismore, Fortress Investment Group, Hampton by Hilton, Hilton, Hilton Hotels & Resorts, HVS, Hyatt Hotels Corporation, IHG Hotels & Resorts, InterContinental, Iridius Capital, LuxUrban Hotels Inc., Marriott International, Noble Investment Group, Opwest Partners, Peachtree Group, Redstone Development, Remington Hotels, Selina, Service Properties Trust, Shivam Property Management, Snyder Commercial Properties, Soho House, Soho House and Co Inc., Sonder Holdings Inc., SureStay, SureStay Studio, Thompson Hotels, TownePlace Suites, Tribute Portfolio, Westin Hotels & Resorts, Westmont Hospitality Group

Locations

Alabama, Alberta, Arizona, Dublin, Florida, Houston, Idaho, Miami, Michigan, Mississippi, Ontario, Orlando, Palm Springs, Santa Fe, St. Thomas, Texas, Vermont, Virginia, Washington State