Hospitality Stockwatch – November 2024

Authors
Arun Upneja, Ph.D. MBA, Dean, Boston University School of Hospitality Administration
Steve Kent, Ph.D., CFA, Assistant Professor, Molloy University-School of Business

October had its challenges. One of the authors of Hospitality Stockwatch is a New Yorker, and the Mets did not make it to the World Series, and the Yankees lost the World Series. The other author, a Bostonian, was disappointed the Red Sox didn’t even make it into the October playoffs. Not to rub salt into the wound, but the stock market broke a bit from its winning streak with the S&P 500 down 1%. The good news is that even with one rough month, the market is still up 20% for the year. The economy seems to be in balance as personal spending is solid, and even with a slight uptick in some of the inflation indicators. Price increases appear to moderate.

In our hospitality and travel world, the airlines had a great month led by United Airlines up 37% on a solid quarter and detente on the price war. Car rental stocks continued the 2024 decline, with October declining 11.5%. Lodging REIT also took it on the chin down, 11.7%, possibly due to higher interest rates and increasing questions on RevPAR growth in the balance of 2024 and going into 2025.

Click here to download Hospitality Stockwatch – Current as of November 1, 2024
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