Wednesday, September 27, 2023
North America

Marriott Lays Out Three-Year Growth Plans

  • STR reported a week ending September 23rd with a 1.2% increase in US hotel RevPAR and a 1.8% rise in Group RevPAR.
  • Barclays lowered price targets for Travel + Leisure to $38 and Marriott Vacations to $118 while maintaining their respective ratings.
  • Marriott International revealed a three-year growth plan, targeting the addition of 230,000 to 270,000 net rooms by 2025 and emphasizing global portfolio expansion and RevPAR growth.

The DJIA fell 69 points while Nasdaq was up 29, the S&P 500 was up a point and the 10-year treasury yield jumped another .07 to 4.63%. Lodging stocks were mostly higher on the day. The only big mover was AINC, to the downside by another -12% to another new low. STR reported US lodging data for the week ended September 23. US hotel RevPAR […]