Hotel industry shows activity with Accor confirming its outlook for the year without a downward revision and KHP Capital Partners securing $300 million for hotel acquisitions and renovations.
Hotel stocks face pressure amid analyst downgrades, mixed industry performance data, and various property transactions. Companies like Hyatt, Gencom, and Ashford Trust announced changes.
Choice Hotels beat earnings expectations due to "other revenues," boosted guidance, and repurchased shares, while Accor reported strong Q4 results, announced a major stock buyback, and considered selling its AccorInvest stake.
Global travel and tourism sector deals declined by 4.3% in 2024, with private equity deals rising, M&A deals slightly increasing, and venture financing deals dropping, while Europe saw growth and other regions faced declines.
Universal Studios is undergoing major expansions in Hollywood and Orlando, including new hotels and the opening of the Epic Universe theme park in 2025.
What started out as a promising rebound day fizzled by the close with the DJIA up 15, Nasdaq down 20, the S&P 500 down 5 points and the 10-year treasury yield up .08 to 4.57%. Lodging…