Thursday, June 1, 2023
North America

Truist Talks U.S. Hotel Trends for Rest of Year

  • Stock market indices experienced gains, with DJIA, Nasdaq, and S&P 500 rising while the 10-year treasury yield decreased.
  • Truist’s RevPAR Monitor highlighted positive and negative trends in the hotel industry, including the recovery of group travel and sluggish corporate individual business/transient segment.
  • Various hotel-related announcements were made, including the launch of IHG’s Wi-Fi Auto Connect feature, expansion of Saks Fifth Avenue’s personal shopping service to luxury resorts, and the opening of new hotels by Hyatt, IHG, Palisociety, and others.

The DJIA rose 153 points while Nasdaq was up 166, the S&P 500 rose 41 points and the 10-year treasury yield was down .03 to 3.61%. Most people would like all of June to be like this. Lodging stocks were modestly higher. The only mover of note was SLNA, up 6% on the day. Truist issued their May/June RevPAR Monitor. Their latest round of forward-looking […]