Bay Area Gets Closer to Welcoming a Margaritaville

• The Baird/STR Hotel Stock Index dropped by -2.4% in October, marking the third consecutive monthly decline.
• Wells Fargo adjusts price targets for Apple Hospitality and Ryman Hospitality, maintaining Overweight ratings.
• Trump Hotels and Irongate reach a buyout agreement for Trump International Hotel, Waikiki, transitioning to Hilton’s LXR Hotels & Resorts in 2024.

The DJIA rose 55 points but Nasdaq was down 30, the S&P 500 was down 4 points and the 10 year treasury yield barely budged again, at 4.63%. Lodging stocks were mixed. HLT traded up to another new high but PEB, SVC and BHR hit new lows with the latter down another -5%. SHCO and SOND both also traded down -5% on the […]