Truist Discusses Challenges in Choice Hotels and Wyndham Deal
- JP Morgan expects strong international performance in 3Q23 RevPAR, net rooms, and pipeline growth, particularly driven by ADR gains.
- Truist discusses potential challenges and concerns in the Choice Hotels and Wyndham Hotels deal, including antitrust issues and franchisee resistance.
- US hotel industry reports a modest 0.8% YoY increase in RevPAR, with ADR compensating for soft occupancy; group RevPAR up 0.9% for the week ending 10/14.
The DJIA fell 333 points, the Nasdaq fell 219, the S&P 500 was down 59 points, and the S&P 500 is one inflation or jobs report away from 5%, up another .06 to 4.90%. Lodging stocks were lower. SOHO traded down to a new low. VCSA was down -7% and is close to a new all-time low after the reverse split. SOND was down -6%, and SLNA fell -5% on the […]