Thursday, August 10, 2023
North America

Marriott’s New Midscale Brand Is Called StudioRes

  • MAR and HLT lodging stocks hit new highs, while several stock targets and ratings were adjusted.
  • Q2 2023 shows a total construction pipeline of 552 projects/88,477 rooms in Latin America. Mexico leads with 213 projects/33,853 rooms. Marriott International dominates the franchise scene with 116 projects/18,733 rooms.
  • Project MidX Studios is renamed StudioRes by MAR for the US and Canada market.

The DJIA rose 53 points, Nasdaq was up 16, the S&P 500 rose a point, and the 10-year treasury yield was up .07 to 4.08%. Lodging stocks were mixed, but both MAR and HLT traded up to new highs today. Oppenheimer lowered their target price on Ashford Inc to $17 from $20. They maintained their Outperform rating. Apple Hospitality had its price target cut to $18 from […]