Hotel REITs See Softer U.S. RevPARs
Marriott plans a dual-branded AC Hotel and Moxy Hotel in Dallas, while other hotel companies announce global openings and renovations.
South Africa
Wyndham and Hyatt Earnings Tripped Up in New Ways
Wyndham had their typical quarter, but WH did say fighting off CHH is going to cost them about $75 million, while Hyatt gave a late-night press release that stated their 4Q results would be delayed because they have not finalized accounting relating to ALG’s Unlimited Vacation Club.
B of A Securities Increases Target Price on Marriott
DJIA and Nasdaq dropped significantly, 10-year yield surged, and lodging stocks declined.
U.S. hotel industry saw lower occupancy but improved year-over-year comparisons.
Peachtree Group announced multiple hotel acquisitions and new development projects, while other hotels are under renovation and expansion.