Red Roof Seeks New President

• Market summary: DJIA, Nasdaq, and S&P 500 experienced declines, while the 10-year treasury yield decreased slightly.
• Playa Hotels & Resorts downgraded by Bank of America Securities, with a lowered price target.
• In Europe and the Caribbean, look to the upcoming opening of One&Only Aesthesis resort in Greece, renovations at Club Med Buccaneer’s Creek in Martinique, Eurostars Hotel’s operation of a luxury hotel in Rotterdam

The DJIA fell 13 points, Nasdaq was down 157, the S&P 500 was down 20 points and the 10-year treasury yield was down .02 to 3.72%. While the biggest movers in lodging and the indexes were down, lodging stocks were overall more mixed than lower. PLYA and SOND were both down -75 while SLNA dropped -5% on the day. Bank of America Securities downgraded […]