Wednesday, June 7, 2023
North America

The Hotel Business Is Good. Financing Is the Question Mark

  • Hotel industry experiences mixed stock market performance, with DJIA rising while NASDAQ and S&P 500 show declines.
  • Renovations and upgrades abound, with notable projects including the multimillion-dollar renovations of Houston Marriott South and Homewood Suites by Hilton New Orleans.
  • Exciting developments on the horizon, such as the opening of Raffles Boston and the planned multimillion-dollar mixed-use project by Beck Ventures in Midtown Dallas.

The DJIA rose 92 points but NASDAQ was down 173, the S&P 500 was down 16 points and the 10 year treasury yield jumped .09 to close at 3.78% again. This wound up taking the wind out of the sails of some lodging stocks. The group still ended the day mostly higher but the big […]