Graduate Hotels Launches a Short-Term Rental Brand
Skift Take
- The vast majority of lodging company earnings, both REIT and C-Corp, have been very positive, with the REITs being the biggest surprise.
- Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel, to its Latitudes: Lifestyle by Crescent collection.
- Black Creek Mexico announced that Grupo Alojica completed the Westin Resort & Spa acquisition, in Puerto Vallarta, from affiliates of Marriott Vacations Worldwide.
The DJIA ended Friday with a gain of 77 points, while Nasdaq was down 63, the S&P 500 fell 7 points, and the 10-year treasury yield was up .16 at 2.84% on the strong jobs report. Lodging stocks were modestly lower, although the two big gainers were to the upside. SVC surged 10% on their earnings report. The vast majority of lodging company earnings, both REIT and C-Corp, have been very positive, with the REITs being the biggest surprise. SVC was one of the few big winners on the reports as investors still seem quite skeptical even with return of capital being prominent. The other big gainer on Friday was MCG, up 8%.
Crescent Hotels & Resorts has added The Viv, Anaheim, a Tribute Portfolio Hotel, to its Latitudes: Lifestyle by Crescent collection. Formerly the Radisson Blu, the Southern California property was converted to a hotel within Marriott’s Tribute Portfolio. The Viv, Anaheim, A Tribute Portfolio
