The Baird/STR Hotel Stock Index increased by 6.2% in June to a level of 5,615, according to a statement published on the website of hotel industry market data company STR.
Statement By Senior Hotel Research Analyst And Director At Baird
The statement published on STR.com quoted senior hotel research analyst and director at Baird Michael Bellisario as saying, "Hotel stocks extended their year-to-date gains in June as the broader market moved higher on fading recession fears. 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."
Statement By STR President
The statement published on STR.com also quoted STR president Amanda Hite as saying, "U.S. hotel room demand fell 0.3% in the second quarter, a result of a calendar shift in April along with flat year-over-year comparisons in May and June,” said Amanda Hite, STR president. “While concerning, we believe the recent demand trends signal a return to industry normalcy as the traveler mix, market blend and day-of-week levels stabilize. Conversely, RevPAR grew 2.5% in Q2, slightly below our expectations, while up 8.7% year to date, which is ahead of our full-year forecast."
Additional Information
The Baird/STR Hotel Stock Index fell behind the S&P 500 (+6.5%) but came in above the MSCI US REIT Index (+4.3%) in June, according to the statement published on STR.com, which also noted that the Hotel Brand sub-index increased by 7.4% from May to 10,545, while the Hotel REIT sub-index increased by 1.8% to 1,072.
Read More: Baird/STR Hotel Stock Index Decreased In May, Notes STR
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