Club Med Rolls Out Developments Across its Portfolio
Skift Take
Club Med announced renovations at its Cancun and Punta Cana resorts and plans for a new luxury resort in Oman opening in 2028.
The DJIA rose 56 points, the Nasdaq was up 102, the S&P 500 was up 24 points and the 10-year treasury yield was down .04 to 3.78%. The signal from the Fed was what everyone was expecting, meaning if things don’t change we will get an interest rate cut later this year. The good news is the market did not give back their gains.
Lodging stocks were higher. SOND and VCSA were the big movers, up 11% and 10% respectively.
STR reported US lodging data for the week ended August 17. US hotel RevPAR rose 0.9% year over year, with Chicago leading the top markets with an 18.7% jump ahead of the Democratic National Convention. Group RevPAR was up 11.7% year over year.
Club Med announced several significant developments across its international portfolio. Club Med Cancun will undergo a multitude of renovations over the next year to enhance the overall guest experience. The Main Pool &a
