$133 Million Margaritaville Hotel Approved in Kentucky
- HSBC initiates stock coverage in the leisure and travel sector, including Buy ratings for Hyatt, Marriott, Hilton, and Host Hotels, along with Hold ratings for Park Hotels, Choice Hotels, and Service Properties Trust.
- Several hotel projects and acquisitions are highlighted, including the opening of the Ritz-Carlton Hotel in Portland, a new property by Maverick Hotels and Restaurants in Rockford, and North American Properties’ approval for a Margaritaville hotel in Newport, Kentucky.
- Notable developments and changes in the international hotel industry, such as Adrian Messerli’s promotion at Four Seasons, Hilton’s plans to open Italy’s first LXR Hotels & Resorts property, and Riu Hotels and Resorts opening a new all-inclusive resort in Jamaica next year.
The DJIA fell 191 points but Nasdaq was up 35, the S&P 500 fell 7 points but the 10-year treasury yield was down .09 to 4.84%. Lodging stocks were mixed. While there were no significant movers, new lows were set by VCSA, SVC, AINC and SOHO. SVC now has a dividend yield of 11.24%. HSBC included lodging in their initiation of stocks in […]