Hilton and Hyatt Get Analyst Thumbs-Up
- Major indices, including DJIA, Nasdaq, and the S&P 500, experienced significant drops. BHR reached a new low, and Bernstein and B.Riley adjusted ratings and price targets for several key hotels.
- Hotel Transactions & Development**: Numerous hotel properties underwent ownership changes, refinancing, or development, with notable mentions like the Delta Hotels by Marriott New York Times Square and the Four Seasons Private Residences Las Vegas nearing completion.
- Aimbridge Hospitality strengthened its team, Melia Hotels announced multiple openings in Mexico, and Selina Hospitality launched a new location in Evia, Greece.
The DJIA fell 361 points while Nasdaq was down 157, the S&P 500 fell 52 points, and the 10-year treasury yield rose another .04 to 4.22%. Lodging stocks were lower. BHR traded down to a new low. Bernstein downgraded their rating on Marriott International to Market Perform from Outperform. They raised their price target to $218 from $204. Bernstein also upped their price target on Hyatt to $147 […]