Weekly "Focus" and Swiftonomics

The excitement in Toronto is palpable now that Taylor Swift has descended on the city. She is performing a total of six shows (only Los Angeles and Singapore host as many); yesterday was opening night and the downtown core was overrun by Swifties in their sequin dresses and beads galore. Ticket prices are through the roof and the city’s hotel operators are taking advantage of the crowds to hike prices. The Sheraton Centre hotel (part of the Marriott chain) is near our office and this weekend the price for a standard room is $700 per night. The same room once the concerts are over is reverting to $280 per night. Talk about Swiftonomics! It’s been a solid year for shareholder returns in the large hotel chains, maybe investors have earned enough to buy a ticket to see her in concert.

 

	Total Return in 2024	Dividend Yield
Hilton Worldwide* (HLT)	+37.6%	0.2%
Hyatt Hotels (H)	+21.4%	0.4%
Marriott International* (MAR)	+26.0%	0.9%

Source: FactSet, Values as of November 14, 2024

 

This week’s "Focus" from our economics team is attached.

 

Have a great weekend,

 

Brad

Senior Portfolio Manager and Senior Investment Advisor