Thursday, June 15, 2023
North America

What Do Guests Want? Connected Rooms

  • Stock market summary: DJIA up 429 points, Nasdaq up 156, S&P 500 up 53.
  • Increased demand for connecting rooms and suites in hotels due to multigenerational family and group travel.
  • Acquisitions and expansions: Fairmont Hot Springs Resort acquired for $40 million, Rimrock Resort Hotel acquired for $170 million with renovations planned, and Bluegreen Vacations expanding accommodations across various properties.

The DJIA rose 429 points, Nasdaq was up 156, the S&P 500 was up 53 points, the 10-year treasury yield was down .07 to 3.73% but lodging stocks were lower. Soho House (SHCO) was the biggest mover, down -9% but VCSA was up 7% and SLNA and Sotherly Hotels (SOHO) were both up 5%. Host Hotels & Resorts announced their board of directors authorized […]