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 ADR growth are likely to moderate, which is supported by the many macroeconomic indicators that are flashing signs of broader slowing.”
In June, the Baird/STR Hotel Stock Index fell behind both the S&P 500 (-8.4%) and the MSCI US REIT Index (-7.9%).
The Hotel Brand sub-index dropped 19.3% from May to 8,010, while the Hotel REIT sub-index dipped 19.5% to 1,036.
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