A&O to Invest €500 Million in Hostels
Skift Take
Europe hostel chain A&O is set to invest €500 million to aid its expansion across Europe. The company is seeking to expand its presence in European city centers.
The DJIA was down 191 points on Friday while Nasdaq was down 155 and the S&P 500 was down 33 points. The 10 year treasury yield was flat at 4.30%.
SHCO and SOND were the biggest losers, down -14% and -7% respectively. One released results that were weak but went on the offensive against short sellers saying SHCO is a WeWork clone, the other, SOND, delayed their results because of accounting errors. AINC was down -6% while BHR traded down to a new low.
There will be no Daily Lodging Report on Monday, March 18th.
Deutsche Bank made changes to price targets for some lodging REITs. They lowered their target on Ashford Hospitality Trust to $6 from $8, Braemar to $9 from $11, RLJ to $15 from $14 and Sunstone to $11 from $10. They believe the hotel subsector is continuing to gain favor among REIT dedicated investors.
Barclays upped their
