Wednesday, July 26, 2023
North America

Certares Closes $284 Million Hospitality Fund

  • Market Summary: DJIA rose 82 points, Nasdaq fell 17, S&P 500 down 1 point, 10-year treasury yield down to 3.85%. Uncertainty remains about the Fed’s rate hike decision.
  • Certares Real Estate Hospitality Fund: Certares closes its first real estate fund with $284 million in equity commitments, investing in 10 U.S. hotels.
  • Hilton and Travel + Leisure face mixed responses from investors. JD Power study highlights staff service as the highest contributor to guest satisfaction in hotels.

The DJIA rose 82 points, Nasdaq fell 17, the S&P 500 was down a point, and the 10-year treasury yield was down .06 to 3.85%. The Fed may be done with their rate hike today or may not be. Every inflation and jobs report will be scrutinized until we get a clear indication of what they will do. Lodging stocks were mixed. MAR […]