Thursday, July 20, 2023
North America

Relative Optimism for Hotel Earnings Season Among Analysts

  • Truist expects varied 2Q earnings for the hotel sector, with C-Corps’ results depending on geography and customer mix.
  • U.S. hotel industry performance in June 2023 showed improvements from the previous month but lower year-over-year changes.
  • RLJ Lodging Trust‘s Nashville property joins Hilton’s Tapestry Collection after a comprehensive renovation, marking the company’s third conversion in 2023.

The DJIA rose 164 points, but Nasdaq plunged 295, the S&P 500 fell 31 points, and the 10-year treasury yield bounced back up .11 to 3.85%. Lodging stocks were lower on the day. Oppenheimer downgraded RLJ Lodging Trust, Chatham Lodging Trust, and Braemar Hotels & Resorts to Perform from Outperform. They upgraded Host Hotels to Outperform from Perform. Truist said they expect a mixed bag for 2Q earnings from […]