Marriott and Hilton Embrace Dividends and Stock Buybacks
- DJIA rose 391 points, Nasdaq up 277, and S&P 500 rose 68, with notable movements in lodging stocks, Hilton, and Marriott. PwC predicts economic challenges for hotels through 2024.
- CBRE reports mixed trends in the U.S. hotel industry, with RevPAR contraction, short-term rentals gaining market share, and outbound U.S. travelers surpassing inbound. Several hotel developments and expansions are underway, including in Banff, Nashville, and Park City.
- Hilton expands to Monaco, Marriott brings The Luxury Collection to Greece, and Minor Hotels debuts in Paris. Various hotel acquisitions, developments, and renovations are announced across the United States, reflecting a dynamic and evolving hospitality landscape.
The DJIA rose 391 points on Friday while Nasdaq was up 277, the S&P 500 rose 68 points and the 10-year treasury yield was flat at 4.63%. Lodging stocks were higher although the biggest mover was a disaster for SHCO shareholders, down -21% after reporting weaker than expected 3Q results. HLT traded up to a […]