Wednesday, November 8, 2023
North America

Acapulco Hotel Owners Vow to Reopen After Hurricane

  • Apple Hospitality REIT reported a modest beat in 3Q results but lowered 4Q guidance due to higher expenses, offsetting improved RevPAR guidance.
  • STR reported that for the week ending November 4, US RevPAR was down by -2.1%, with a -4% decrease in occupancy, and a -7.4% drop in Group RevPAR.
  • Latin America’s hotel construction pipeline shows growth with 579 projects and 95,144 rooms in Q3 2023, up 6% in projects and 5% in rooms year-over-year, with Mexico leading the way.

The DJIA was down 40 points but Nasdaq was up 11, the S&P 500 rose 4 points and the 10-year treasury yield was down .05 to 4.52%. Lodging stocks were mixed. HLT traded up to a new high but VCSA’s earnings, despite beating and raising, failed to impress with the stock down -14%. SOND was down -11%, AHT was down -6% […]