Thursday, August 3, 2023
North America

Earnings Season’s Worst Day This Quarter

  • Marriott Vacations had the worst earnings report, with a significant miss on analyst estimates and a reduced guide.
  • Hyatt and Host Hotels also missed estimates, with Hyatt’s miss tied to leisure and resort exposure.
  • The U.S. hotel construction pipeline is active in markets like Dallas, Atlanta, Phoenix, Nashville, and Los Angeles.

The DJIA was down 67 points, Nasdaq was down 14, the S&P 500 was down 12 points, and we may as well just get it over with and get to 4.50% on the 10-year, with the yield rising another .11 today to 4.19%. Lodging stocks were lower, weighed down by a tough day of earnings reports. SLNA, after that ridiculous trading yesterday, was […]