Sunday, July 23, 2023
North America

Marriott Grows Conversion Pipeline in Latin America

  • Hilton and Marriott are expected to report strong 2Q23 results with international strength as a key driver.
  • Various hotels in different regions are undergoing significant expansions, renovations, and acquisitions, with Hilton announcing a new property in Cancun and Scandic Hotels Group expanding its portfolio in Sweden.
  • Accor is in exclusive negotiations to acquire a majority stake in Potel & Chabot, potentially becoming the sole shareholder of the company.

The DJIA ended Friday up 3 points, but Nasdaq was down 31, the S&P 500 was up a point, and the 10-year treasury yield was down .02 to 3.84%. Lodging stocks were mixed. MAR traded up to a new all-time high, while ABNB hit a new 52-week high. Baird said they expect good 2Q23 reports from Hilton and Marriott with an upward bias to earnings estimates. They […]