International Arrivals to U.S. in November Increased 61% YoY
Skift Take
- Wells Fargo changed price targets on a bunch of hotel names in their coverage.
- In November 2022, total non-US resident international visitor volume to the United States increased 61.3% compared to November 2021
- According to the Q4 2022 Hotel Construction Pipeline Trend Report for Canada by Lodging Econometrics, Canada’s total construction pipeline stands at 267 projects/35,758 rooms.
The DJIA fell 39 points but Nasdaq keeps rolling on, up another 385 while the S&P 500 rose 61 points. The 10-year treasury yield was flat at 3.40%. Lodging stocks were higher. SOND led the group with a 19% rise, MCG was up 9% but SLNA fell -6% on the day.
Wells Fargo changed price targets on a bunch of hotel names in their coverage. They upped Marriott’s target price to $189 from $182. Park Hotels’ PT was upped to $17 from $16. Both stocks were maintained at Overweight. WF upped Hilton’s target price to $148 from $145, DiamondRock Hospitality’s PT was upped to $10.50 from $10, Apple Hospitality’s PT is now $18, up from $17 and Pebblebrook Hotel Trust had their target price lowered to $17 from $18. Those four remain with an Equal Weight rating. Finally WF upped Service Properties Trust’s target price to $7.50 from $6.75 and maintained their Underweight rating.
In November 2022, tota
