Baird Expects Growth in Hotel Revenue Per Available Room

• Baird provides insights into investor sentiment and expectations for 2024 RevPAR growth among hotel brands.
• Several hotel renovation and construction projects are announced, including a new Westin Resort in Cocoa Beach, Florida, and a Ritz Carlton Residences in Lake Woodlands, Texas.
• Multiple hotel acquisitions and developments are highlighted, such as the Kastrati Group’s acquisition of SLS Brickell in Miami and IHG Hotels & Resorts introducing the Kimpton brand in Portugal with Kimpton Algarve Sao Rafael Atlantico.

The DJIA rose 39 points on Friday, but the Nasdaq was down 167, and the S&P 500 was down 22 points, so it was a down day across most stocks, lodging included. The 10-year treasury yield fell .08 to 4.63%. The only mover of note in lodging stocks was SOND, down -9%. Baird gave a hotel check-in on recent conversations and investor sentiment. […]