Sunday, November 5, 2023
North America

Lodging Stocks End the Week Higher

  • Stock market rallied as treasury bond yields fell, with DJIA, Nasdaq, and S&P 500 gaining points, while lodging stocks like SOND, AHT, and others saw significant increases.
  • Several hotel-related developments were announced, including renovations, new hotels, and property sales in various locations across the United States.
  • Rosewood Hotels & Resorts will introduce Rosewood Blue Palace in Greece in 2025, while the British Colonial Hotel in Nassau, Bahamas, will reopen on December 12 after a $100 million renovation.

Stocks rallied again on Friday as treasury bond yields continued to plunge. The DJIA was up 222 points as Nasdaq rose 184, the S&P 500 was up another 41 points, and the 10-year treasury yield was down .11 to 4.56%. Lodging stocks were higher, led by REITs although the new age companies went along for the ride. […]