U.S. Hotel Profitability Lags Pre-Covid Levels
Skift Take
A new report indicates that U.S. hotel debt maturities, exacerbated by lagging profitability, high interest rates, and rising insurance costs, will drive increased transactions in 2024, especially in top gateway markets.
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The DJIA plunged another 411 points today while the Nasdaq was down 99, the S&P 500 fell 39 points, and the 10-year treasury yield was up .08 to 4.62%. Lodging stocks were lower with the new lows list getting longer. Today's list included CLDT, SVC, APLE, and VCSA, with the latter bouncing to close up 5% on the day.
Wedbush said they think investors should take advantage of the weakness in Airbnb's stock price, upgrading their rating to Outperform from Neutral. The firm upped their price target on ABNB to $165 from $160.
Apple Hos
