SVC - Hotel shopping REIT stock drop as COVID variant derails rebound

Just when hotels and shopping malls started seeing a trend back toward prepandemic levels, a new variant emerges in South Africa, throwing a wrench in the works. Hotel REIT stocks suffer in premarket trading as some countries impose new travel restrictions. Host Hotels & Resorts (NASDAQ:HST) drops 5.0% in premarket, Ashford Hospitality Trust (NYSE:AHT) sinks 6.6%, Service Properties Trust (NASDAQ:SVC) falls 5.2%, Apple Hospitality REIT (NYSE:APLE) -3.2%. Park Hotels & Resorts falls 5.6%. Ryman Hospitality Properties (NYSE:RHP), which owns Gaylord Hotels, tourist attraction the Grand Ole Opry, and convention center resorts, slips 3.7%. As with the early waves of COVID, mall and shopping center REITs also slip — Simon Property Group (NYSE:SPG) -4.0%, Macerich (NYSE:MAC) -5.5%, CBL Properties (NYSE:CBL) -5.0%, Kimco (NYSE:KIM) -2.4%, and movie-theater-centric EPR Properties (NYSE:EPR) -4.2%. Earlier, COVID-19 variant triggers travel sector sell-off — airlines, cruises, hotels tumble

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Hotel, shopping REIT stock drop as COVID variant derails rebound