Monday, October 16, 2023
North America

Kempinski Debuts in North America

  • Morgan Stanley adjusted price targets for several hotel companies, maintaining Overweight ratings for Hyatt, Hilton, Marriott, and Wyndham, but lowered the price target for Park Hotels. They also raised the price target for Choice Hotels and maintained an Underweight rating on Pebblebrook Hotel Trust.
  • Marcus Hotels & Resorts’ new Chief Investment Officer, Tiffany Leadbetter Donato, aims to expand the company’s hotel portfolio beyond the Midwest for greater geographic and customer diversity.
  • Hotel del Coronado, part of Curio Collection by Hilton, is investing over $160 million to restore and revitalize its historic Victorian building in Coronado, California, with a target completion date in Spring 2025.

The DJIA rose 314 points, the Nasdaq was up 161, the S&P 500 rose 46 points, and the 10-year treasury yield was up .08 to $4.71%. Lodging stocks were higher across the board. Morgan Stanley made some changes to its coverage of hotel names. While maintaining their Overweight ratings, MS upped Hyatt’s price target to $138 from $132, Hilton to $182 from $170, Marriott to $232 from $225, […]