Lodging stocks have been overly punished by fears of slower economic growth, UBS says; the group...

|By:, SA News Editor

Lodging stocks have been overly punished by fears of slower economic growth, UBS says; the group is trading at ~11x 2012 EBITDA estimates vs. its historical multiple of ~12-13. Starwood (HOT) is its top sector pick, due to its diversified global exposure, operating leverage of its owned hotels, and strength in some of the world's top growth markets. Marriott (MAR) also should see decent growth.