Peachtree Group Has 48 Properties in Development
Skift Take
Peachtree Group has surpassed $2 billion in hotel development across 48 nationwide projects, including new builds in Alabama, Dallas, and multiple Qualified Opportunity Zone developments.
The DJIA fell 123 points while Nasdaq was down 235, the S&P 500 was down 46 points and the 10-year treasury yield was down .03 to 4.54%. Lodging stocks were modestly lower. PK traded down to a new low while WH traded up to a new high.
Park Hotels’ price target was cut to $13 from $15 by UBS. The firm maintained their Neutral rating on PK.
Hyatt Hotels and Playa Hotels & Resorts announced they extended their previously disclosed exclusivity agreement. Under that agreement, PLYA agreed to negotiate exclusively with Hyatt regarding potential strategic alternatives which may include the acquisition of PLYA. The exclusivity period has been extended to February 10th.
Ashford Hospitality Trust, Inc. announced several revenue-focused initiatives have been fully implemented as part of the broader “GRO AHT” plan. As previously announced, “GRO AHT” is a transformative strategic initiative designed to drive $50 million in EBITDA growth and substa
