News
US Hotel Stocks Continue Modest Growth In July As Hotel REITs Soar
US hotel stocks aren't soaring, but they're not sinking either—the Baird/STR Hotel Stock Index shows the sector is up 6.1% in July.
“As US hotel lodging performance continues its period of slow growth, the stock index reflects those new realities,” says STR president and CEO Amanda Hite.
Amanda says the post-Brexit environment of slow growth in the sector is the “new normal,” adding most industry players understand the current supply-and-demand situation and are focusing their efforts on average daily rate growth to drive profits, World Property Journal reports.
While brand hotels are experiencing slow growth, REITs are killing it. In July the Hotel REIT sub-index enjoyed 10.3% growth. [WPJ]
