HENDERSONVILLE, Tennessee, and MILWAUKEE, Wisconsin—The Baird/STR Hotel Stock Index ended November with a 2.7-percent decrease to 1,951 and is down 17.5 percent year-to-date 2011. The index ended 2010 at 2,364.
Robert W. Baird & Co. (Baird) and STR partnered to create the Baird/STR Hotel Stock Index—the first widely available U.S. hotel stock index in the hotel industry. The index combines Baird’s financial markets expertise, the data processing of STR and the up-to-the-minute distribution capabilities of HotelNewsNow.com, the industry’s leading news website.
The Baird/STR Hotel Stock Index outperformed the MSCI REIT Index (RMZ), which was down 4.1 percent in November. The S&P was down 0.5 percent for the month.
“Investors were reminded of the volatile market conditions this month,” said Randy Smith, co-founder and chairman at STR. “The hotel industry is still reporting steady performance but will start to face tougher year-over-year comparisons in 2012. Add to that STR’s recent downgrade of the 2012 forecast and the ever-changing macroeconomic landscape, and investors are making sure to keep a close watch before making any moves.”
“Macroeconomic headlines continue to dominate the news, but hotel fundamentals have remained resilient,” said David Loeb, senior hotel research analyst and managing director at Baird. “Earnings season appeared to focus investor attention on fundamentals, but once that concluded, macro issues came back to the forefront. However, despite the 2.7-percent loss for the month, the Index, once again, outperformed other real estate sectors as investor sentiment continues to improve heading into 2012.”
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About the Baird/STR Hotel Stock Index
The Baird/STR Hotel Stock Index was set to equal 1,000 on 1 January 2000, as its starting point. The Index reached its peak of 3,178 on 5 July 2007. The Index’s lowest point occurred on 6 March 2009, when it dropped to 573.
The Index is available exclusively on www.hotelstockindex.com and www.HotelNewsNow.com. The Baird/STR Hotel Stock Index is a co-branded index created by Robert W. Baird & Co. (Baird) and Smith Travel Research, Inc. (STR). The market-cap weighted Index is comprised of 15 of the largest market capitalization hotel companies publicly traded on a U.S. exchange and attempts to characterize the performance of hotel stocks. The Index is maintained by Baird and is hosted on HotelNewsNow.com. The Index is not actively managed and a direct investment cannot be made in it.
The companies that comprise the Baird/STR Hotel Stock Index: Choice Hotels International, DiamondRock Hospitality, Hersha Hospitality Trust, Hospitality Properties Trust, Host Hotels & Resorts, Hyatt Hotels Corporation, InterContinental Hotels Group, LaSalle Hotel Properties, Marriott International, Orient-Express Hotels, Pebblebrook Hotel Trust, Starwood Hotels & Resorts Worldwide, Strategic Hotels & Resorts, Sunstone Hotel Investors and Wyndham Worldwide.
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