Hudson Group, which runs the eponymous convenience shops in U.S. airports and temporarily closed more than 700 of its more than 1,000 stores during the pandemic, has reopened 635 of them.
Cruise Industry
While not cruising, Carnival Corp. told investors that it expected to burn through an average of $600 million in cash a month just to keep vessels maintained, sustain corporate operations and invest in preparations to return to sea.
Declined Rent Assistance
The federal eviction moratorium doesn’t guarantee renters the right to renew their leases. When leases expire, that is when many landlords weigh the government’s offered rent assistance payments against the chance to remove a tenant the owner no longer wants in the building.
Google Offices
Alphabet Inc. said it would spend $7 billion this year expanding its footprint of offices and data centers across the U.S., including pouring $1 billion into its home state of California.
Half Way
For the week of Feb. 28 to March 6, 2021, U.S. hotel revenue per available room was slightly more than half of what it was in 2019, $48.13 compared to $87.75.
Air Travel
Passenger volumes are 40% to 50% below pre-pandemic levels, but nearly 1.36 million people passed through U.S. airport-security checkpoints on Friday, the most in about a year.
STAY
Blackstone Group Inc. and Starwood Capital Group have agreed to acquire hotel owner and operator Extended Stay America Inc. for $6 billion.
Household Net Worth
The Federal Reserve reported that household net worth swelled to $122.9 trillion in the fourth quarter from $116.2 trillion in the third quarter and $111.4 trillion at the end of 2019.
Cash-Out Refi
American homeowners cashed out $152.7 billion in home equity last year, a 42% increase from 2019 and the most since 2007.
Stock Index
The Baird-STR Hotel Stock Index grew by 22.4% in February, following an 8.2% month-over-month decline in January. By comparison, the S&P 500 index was up 2.6% in February.