Tuesday, May 30, 2023
North America

Vancouver’s Occupancy Levels Lead Canadian Rivals

  • Hotel industry updates: Canadian hotel RevPAR exceeds C$100 for third consecutive month, with Manitoba and Vancouver leading in occupancy rates.
  • Renovations and expansions: Knoxville, Tennessee plans to add 350 hotel rooms, while a $12 million extended-stay hotel is set to open in Maryland Heights, Missouri.
  • Company announcements: Hyatt Place Melbourne Airport opens in Florida, while LVMH scraps luxury hotel plans in Beverly Hills.

The DJIA was down 51 points but Nasdaq was up 42, the S&P 500 was flat and the 10-year treasury yield was down .11 to 3.70%. Lodging stocks were mixed. SOND was up 15% (0.0817) while SOHO jumped 12% as they announced the payment of some special preferred dividends, trying to get preferred shareholders whole again on their past dividends. AHT was up 8% […]