U.S. Hotels Enjoy Second-Highest Room Demand Ever for Month of September
- Stock market indices showed gains on Friday, with DJIA up by 288 points, Nasdaq up by 212 points, and S&P 500 up by 50 points, while the 10-year treasury yield increased to 4.78%.
- San Francisco saw a significant increase in weekday occupancy, and STR reported a 66.3% occupancy rate for US hotels in September 2023.
- Several new hotels and renovations were announced, including Aloft Hotel near Fort Lauderdale, Residence Inn in Vail, and the Union Station Nashville Yards.
The DJIA ended Friday with a gain of 288 points while the Nasdaq was up 212, the S&P 500 rose 50 points, and the 10-year treasury yield rose by .07 to 4.78% on the jobs report. Lodging stocks were mixed. TNL traded down to a new low. SHCO was up 6% to lead the group. STR said occupancy for September in the US was 66.3%. The preliminary data […]