Travel Industry Sees 40 Percent YoY Decline in Deal Activity

• Stock market: DJIA down 245 points, Nasdaq down 22, S&P 500 down 21 points
• Decline in travel and tourism deal activity: 41% YoY decline, all deal types registered a decline in volume
• Hotel transactions: Several hotels sold, renovated, or under development in different locations

The DJIA ended the day down 245 points while Nasdaq was down 22, the S&P 500 fell 21 points and the 10-year treasury yield was down .04 to 3.73%. Lodging stocks were lower. SOND was down -10%, AHT was down -8% but SLNA rose 7% on the day. The travel and tourism industry witnessed a massive 41% YoY decline in deal activity from 475 […]