Thursday, June 22, 2023
North America

Canada’s Surging Hotel Performance

  • Market Performance: DJIA fell 5 points, Nasdaq rose 128, and S&P 500 increased by 16 points; lodging stocks underperformed consumer and leisure stocks.
  • Jefferies Nantucket Conference: Lodging companies report moderation in leisure demand, strength in group business, and mixed recovery of business transient; limited conviction impacting strategies and stock performance.
  • Hotel Industry Updates: Canada’s hotel industry shows improved performance; various hotels undergo renovations, acquisitions, and openings across different locations.

The DJIA fell 5 points while Nasdaq was up 128, the S&P 500 was up 16 points and the 10 year treasury yield was up .08 to 3.80%. Equity indexes did better than lodging stocks today as consumer and leisure stocks were in the red today. The only mover of note today in lodging was VCSA, trading down to another all […]