Baird/STR Hotel Stock Index
Baird/STR Hotel Stock Index Dropped 10% in December, Ended Year Down 15%
Baird | January 12, 2023
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index dropped 10% in December to a level of 4,885. For 2022 as a whole, the stock index was down 15%. “Hotel stocks ended a relatively strong year on a weak note as recessionary fears and slowing growth concerns were front and center for investors in December, which caused hotel stocks to underperform during the month,” said Michael Bellisario, senior hotel research analyst and director at Baird. Pebblebrook's negative fourth-quarter preliminary earnings announcement caused the hotel REITs to tag in December and reinforced investors' negative sentiment tow...
Baird/STR Hotel Stock Index Rose 2.7% in November
Baird | December 14, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index rose 2.7% in November to a level of 5,430. Year to date through the first 11 months of 2022, the stock index was down 5.5%. “Hotel stocks increased in November but were relative underperformers for the first time since June,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Softer than expected CPI data fed into the Federal Reserve pivot narrative, which caused the broader stock market to jump, particularly in some of the industries and sectors that had lagged recently; as a result, both the hotel REITs and the global ...
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 9.1% in September
Baird | October 17, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index fell 9.1% in September to a level of 4,564. Year to date through the first nine months of 2022, the stock index has dropped 20.6%. “September was a risk-off month for the broader market, and hotel stocks were down sharply as well. However, the Hotel REITs were modest underperformers only, while the Global Hotel Brands were slight relative outperformers,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Broader macroeconomic concerns continue to dominate investor sentiment and positioning, but underlying hotel fundamen...
Baird/STR Hotel Stock Index Dipped 2.7% in August
Baird | September 13, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index dipped 2.7% in August to a level of 5,021. Year to date through the first eight months of 2022, the stock index decreased 12.6%. “Hotel stocks took a breather in August after July’s sharp rebound. Despite the slight decline in stock prices, both the Global Hotel Brands and Hotel REITs outperformed their respective benchmarks in August,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Hotel trends have remained solid throughout the summer months despite all the capital markets volatility and macroeconomic uncertaint...
Baird/STR Hotel Stock Index Jumped 14.3% in July
Baird | August 18, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index jumped 14.3% in July to a level of 5,158. Year to date through the first seven months of 2022, the stock index decreased 10.4%. “Hotel stocks rebounded sharply and outperformed their respective benchmarks in July; relative outperformance has continued in August,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Despite the big gains in July, hotel stocks did not fully recapture June’s losses. Positively, second quarter earnings exceeded analysts’ and investors’ expectations, and broader recession fears have begu...
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 Rose 4.1% in February
STR | March 14, 2022
HENDERSONVILLE, Tennessee, and MILWAUKEE — March 14, 2022 — The Baird/STR Hotel Stock Index rose 4.1% in February to a level of 5,753. Year to date through the first two months of 2022, the stock index increased 0.2%. “Hotel stocks posted gains in February and were relative outperformers for the third consecutive month,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Despite increased stock market volatility and growing geopolitical concerns, investors remained focused on the reopening momentum and improving demand trends as Omicron-related disruptions are in the rearview mirror and corpo...
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