Baird/STR Hotel Stock Index Down 0.9% In March
Year to date, the index is up 14.1%, according to Baird and STR.
HENDERSONVILLE, Tennessee, and MILWAUKEE — The Baird/STR Hotel Stock Index dipped 0.9% in March to 4,642. Year to date through the first three months of 2019, the index was up 14.1%.
"Hotel stocks underperformed their respective benchmarks in March and both sub-indices finished the month down slightly," said Michael Bellisario, senior hotel research analyst and VP at Baird. "Industry fundamentals year to date have been a bit below the recent trend line, and, as a result, hotel stocks' upward momentum slowed in March despite the broader stock market continuing to move higher."
"It is not a surprise to see investors a bit more bearish than in recent months as U.S. RevPAR continues to grow with even less momentum than expected," said Amanda Hite, STR's president and CEO. "The situation will be a bit tricky over the next month or so as the Easter calendar shift affects group business and overall performance comparisons with last year. One constant we do expect for the next several months is strong performance growth in San Francisco, in comparison with a low base last year, lifting overall U.S. numbers."
March performance of the Baird/STR Hotel Stock Index lagged behind both the S&P 500 (+1.8%) and the MSCI US REIT Index (+2.7%).
The Hotel Brand sub-index decreased 0.4% from February to 7,008, while the Hotel REIT sub-index dropped 1.9% to 1,593.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
Nick Minerd
Public Relations Coordinator
+1 (615) 824 8664 ext. 3305
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