Baird/STR Hotel Stock Index
Baird/STR Hotel Stock Index Jumped 10.5% in December, Ended Year Up 38.4%
Baird | January 12, 2024
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index jumped 10.5% in December to a level of 6,760. For 2023, the stock index was up 38.4%. “Hotel stocks – like the broader market – finished 2023 on a high note as the ‘soft landing’ narrative and lower interest rate outlook continued to boost investor sentiment and valuation multiples,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Both the hotel brands and hotel REITs were up more than 10% in December and outperformed their respective benchmarks. For the year, the hotel REITs’ 19% gain more than doubled the return of re...
Baird/STR Hotel Stock Index Up 9.3% in November
STR | December 11, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index increased 9.3% in November to a level of 6,119. "Hotel stocks rose sharply in November and snapped a three-month losing streak; performance generally tracked the benchmarks,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Lower interest rates primarily drove the gains during the month, particularly for real estate stocks, and overall investor sentiment improved. Year to date, the hotel REIT sub-index turned positive and is now +7.6%, while the hotel brand sub-index at +30.6% continues to be a relative outperformer.” “As exp...
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 Down 3.6% in August
Baird | September 14, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 3.6% in August to a level of 5,856. “Hotel stocks pulled back and underperformed in August with Hotel REITs the laggards,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The Hotel REITs posted their worst month of the year due to weak second quarter earnings reports, reduced full-year guidance expectations, and several weather-related impacts across the country during the month; relative performance would have been even worse if not for Hersha’s take-private announcement during the last week of the month.” “U.S...
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 Grew 6.2% in June
Baird | July 17, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index grew 6.2% in June to a level of 5,615. "Hotel stocks extended their year-to-date gains in June as the broader market moved higher on fading recession fears,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Macroeconomic concerns have continued to subside, but recently normalizing leisure travel patterns domestically have weighed on the hotel REITs’ relative performance, particularly compared to the global hotel brands that are still benefitting from recovering international markets and cross-border demand.” ...
Baird/STR Hotel Stock Index Declined 2.6% in May to a Level of 5,287
STR | June 15, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index declined 2.6% in May to a level of 5,287. "Hotel stocks were mixed in May – the Hotel REITs increased slightly and outperformed the real estate benchmark by 400 bps, while the Global Hotel Brands declined and underperformed the S&P 500’s marginal gain by 380 bps,” said Michael Bellisario, senior hotel research analyst and director at Baird. “While macroeconomic concerns have subsided recently, investors are incrementally focused on normalizing customer and geographic demand trends and slower year-over-year RevPAR growth, particularly related ...
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...
