Baird
Baird/STR Hotel Stock Index Down 2.4% in October to a Level of 5,600
Baird | November 10, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index decreased 2.4% in October to a level of 5,600. "Hotel stocks fell for the third consecutive month in October, and performance directionally tracked the broader indices,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Interest rates remained a key driver of performance, and elevated interest rates weighed on real estate stocks, which caused the hotel REITs to be relative outperformers during the month. The global hotel brands’ approximate 2% decline nearly matched the S&P 500’s pullback in October.” “U.S. h...
Baird/STR Hotel Stock Index Jumped 8.2% in July to 6,074
Baird | August 14, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index grew 8.2% in July to a level of 6,074. Hotels stocks outperformed again in July with the global hotel brands leading the way higher,” said Michael Bellisario, senior hotel research analyst and director at Baird. “For the last few months, broader stock market momentum and investors’ risk-on appetite have bolstered the hotel stocks’ performance; additionally, continued international strength and recovering cross-border travel have benefitted the Global Hotel Brands. The Hotel REITs face challenging near-term growth comparisons for the remainder of the year, bu...
Baird/STR Hotel Stock Index Increased 1.4% in April
Baird | May 15, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index increased 1.4% in April to a level of 5,430. Hotel stocks increased in April, and the gains were driven by outperformance from the global hotel brands,” said Michael Bellisario, senior hotel research analyst and director at Baird. “RevPAR trends have remained solid in the face of growing macroeconomic uncertainties and continued banking turmoil, and first-quarter earnings generally have surprised to the upside with positive full-year estimate revisions occurring. The Hotel REITs declined more than 2% in April and underperformed the RMZ, while the global hotel b...
Baird/STR Hotel Stock Index Fell 2.5% in February
Baird | March 20, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 2.5% in February to a level of 5,541. “Hotel stocks – just like the broader market – pulled back in February as the focus turned to earnings and initial 2023 outlooks,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The global hotel brand stocks, while down slightly during the month, outperformed the S&P 500 on the heels on strong fourth quarter earnings reports and guidance that matched expectations; hotel REITs were weaker and relatively underperformed as investors focused on somewhat mixed fourth quarter earnin...
Baird/STR Hotel Stock Index Jumped 15.8% in October
Baird | November 17, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index jumped 15.8% in October to a level of 5,286. Year to date through the first 10 months of 2022, the stock index was down 8.0%. “October was a strong rebound month for hotel stocks, and they recouped all their losses from the prior two months,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Importantly, both the global hotel brands and the hotel REITs were relative outperformers versus their respective benchmarks in October. As investors shifted their focus from broader macroeconomic uncertainties to sector-specific p...
Baird/STR Hotel Stock Index Fell 19.3% in June
Baird | July 13, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 19.3% in June to a level of 4,504. Year to date through the first six months of 2022, the stock index decreased 21.6%. “Hotel stocks continued on their downward trajectory in June and were significant relative underperformers as investors began to factor in an increasing likelihood of an impending recession,” said Michael Bellisario, senior hotel research analyst and director at Baird. “While the upcoming summer travel months are expected to be strong, investors are looking beyond the near-term fundamental strength to a period when demand and AD...
Baird/STR Hotel Stock Index dropped 5.8% in May
Baird | June 13, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index dropped 5.8% in May to a level of 5,584. Year to date through the first five months of 2022, the stock index has decreased 2.8%. “Hotel stocks declined in May amid the broader stock market volatility as investors grew concerned about macroeconomic slowing and inflationary pressures, among other risks and uncertainties,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Hotel fundamentals have continued to improve and are showing no signs of slowing; the demand recovery is broadening, the harder-hit urban markets are re...
Baird/STR Hotel Stock Index Rose 0.7% in April
STR | May 9, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index rose 0.7% in April to a level of 5,925. Year to date through the first four months of 2022, the stock index increased 3.1%. “Hotel stocks increased modestly in April but were significant relative outperformers as the broader travel recovery accelerated, particularly domestically,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Underlying hotel fundamentals continued their rebound in April, especially in some of the harder-hit urban markets, and better-than-expected intra-quarter updates from companies boosted investo...
