Baird/STR Hotel Stock Index grew 1.4% in April
 
Baird/STR Hotel Stock Index grew 1.4% in April
08 MAY 2017 7:56 AM

The Baird/STR Hotel Stock Index rose 1.4% in April, and through the first four months of 2017 the index is up 6.2%.

HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index increased 1.4% in April, closing the month at 3,932. Year to date through the first four months of 2017, the index was up 6.2%.

“Stocks bounced back in April, and gains primarily were driven by the hotel brand companies after the hotel REITs sharply sold off at the end of the month,” said Michael Bellisario, senior hotel research analyst and vice president at Baird. “First-quarter earnings season began toward the end of April, and results were generally better than expected, which pushed hotel stocks higher. Management teams have maintained a cautiously optimistic tone but none are seeing signs of an upcoming fundamental reacceleration.”

“The industry saw both sides of the Easter calendar shift in play over the past month,” said Amanda Hite, STR’s president and CEO. “Investor sentiment looks to be reflective of that after skewed performance growth in March gave way to the reversal in most of April’s weekly results. Nonetheless, preliminary monthly data for April is pointing towards slightly better than expected results. Growth forecasts remain very modest compared with the last several years, but industry performance remains solid overall.”

The Baird/STR Hotel Stock Index for April outperformed both the S&P 500 (+0.9%) and the MSCI REIT (RMZ), which was flat.

The Hotel Brand sub-index increased 3.1% to 5,505 from March to April, while the Hotel REIT sub-index fell 1.5% to 1,573 during the month.

As of 1 April, Park Hotels & Resorts, Inc. replaced Chesapeake Lodging Trust in both the Baird/STR Hotel Stock Index and the Baird/STR Hotel REIT sub-Index.

Media Contacts:

Jeff Higley
STR
VP, Digital Media & Communications
jhigley@str.com
+1 (615) 824-8664 ext. 3318

Nick Minerd
STR
Public Relations Manager
nminerd@str.com
+1 (615) 824-8664 ext. 3305

Ashley Bakke
Baird Public Relations
publicrelations@rwbaird.com
+1 (414) 765-7250

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.