Wednesday, August 2, 2023
North America

Omni Hotels Rolls out a New Identity

  • Xenia Hotels & Resorts reported an in-line to a modest miss result and narrowed guidance. They repurchased common stock in the quarter.
  • Chatham Lodging Trust had a 5% increase in RevPAR year over year and a 5% AFFO rise, with RevPAR down less than -2% from 2019.
  • Several hotels announced new openings, acquisitions, and rebranding, including Omni Hotels & Resorts, Sonesta, Braintree Group, Elise Capital, Hyatt Hotels Corporation, and DiamondRock Hospitality Company.

The DJIA fell 348 points, but Nasdaq was down more than 2% (down 310), while the S&P 500 was down 63 points. The 10-year treasury yield was up .03 to 4.08%. The initial trading when Selina Hospitality completed their SPAC deal was crazy, and today’s action showed they still have a lot of that craziness in their stock. The stock was up more than 50% […]