Waldorf Astoria Washington D.C. Faces Foreclosure
Skift Take
Two years after buying the Old Post Office building from the Trump Organization, owner CGI has defaulted on its loan payments.
The DJIA rose 350 points, Nasdaq was up 231, the S&P 500 rose 61 points and the 10-year treasury yield fell .09 today to 4.36%. Lodging stocks were modestly higher. The biggest mover was to the downside with VCSA dropping another -8% to another new low. SHCO was down -6% on the day.
Deutsche Bank said 1Q24 earnings season for the lodging sector resulted in share prices barely moving whether there was a beat, meet or a miss. DB said this further highlights the comfort they believe investors find in the Lodging C-Corps in this current environment.
Ashford Hospitality Trust and Braemar Hotels & Resorts both put out separate announcements detailing how activist Blackwells Capital’s request for shares of AHT to withhold voting for any of the incumbent directors was a failure. AHT said seven of its nine nominees received a majority of the votes cast and t
