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Why Hotel REITs Like Pebblebrook, DiamondRock, and Park Hotels & Resorts Tanked Today

Reuben Gregg Brewer, The Motley Fool
·4-min read
Why Hotel REITs Like Pebblebrook, DiamondRock, and Park Hotels & Resorts Tanked Today

On May 13, hotel real estate investment trusts (REITs) Pebblebrook Hotel Trust (NYSE: PEB), DiamondRock Hospitality Trust (NYSE: DRH), and Park Hotels & Resorts (NYSE: PK) all fell 10% or more in the first half of trading. Each of these three hotel REITs had a difficult first quarter, as efforts to contain the spread of COVID-19 had a swift and direct impact on the performance of their properties. In reality, the social distancing and non-essential business closures mandated by the government only impacted a part of the first quarter.

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