Tue, Nov. 24, 1:49 PM
- A global travel warning issued by the U.S. Department is impacting several sectors. Hotel stocks are notably weaker, while amusement park stocks are also trailing broad market averages. Airlines are feeling a double whammy from travel demand concerns and a 3% rise in crude oil futures.
- In some cases the sell-off appears to be an overreaction with little evidence in that travel habits will change dramatically, according to some analysts.
- Decliners include Hyatt Hotels (H -1.5%), Hilton Worldwide (HLT -1.1%), Marriott International (MAR -1.8%), JetBlue (JBLU -1.7%), Delta Air Lines (DAL -3.3%), American Airlines Group (AAL -2.4%), United Continental (UAL -3.2%), Allegiant Travel (ALGT -5.3%), Spirit Airlines (SAVE -4.1%), Southwest Airlines (LUV -2.7%), Six Flags (SIX -1.0%), Cedar Fair (FUN -1.0%), Disney (DIS -0.9%), and Sabre (SABR -3.9%), Virgin Amerinca (VA -2.5%), Alaska Air Group (ALK -1.5%).
- Previously: PCLN, EXPE, TRIP sell off after State Department issues travel warning (Nov. 24)
Mon, Nov. 16, 5:43 PM
Mon, Nov. 16, 6:19 AM
- Marriott International (NASDAQ:MAR) has agreed to acquire Starwood Hotels & Resorts Worldwide (NYSE:HOT) in a deal valued at about $12.2B, creating the world's largest hotel company.
- Under the terms of the deal, Starwood shareholders will receive 0.92 shares of Marriott Class A common stock and $2 in cash for each share of Starwood common stock.
- Combined, the companies operate more than 5,500 hotels with 1.1M rooms worldwide, with pro forma fee revenue for the 12 months ended September 30, 2015 totaling over $2.7B.
- MAR +0.4%; HOT -0.9% premarket
Thu, Nov. 5, 11:50 AM
Wed, Oct. 28, 4:46 PM
Tue, Oct. 27, 5:35 PM
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Tue, Oct. 27, 2:48 PM
- Starwood Hotels and Resorts (HOT +9%) pops after The Wall Street Journal reports some Chinese firms are seeking approval to make a bid on the hotel operator.
- Shanghai Jin Jiang International Hotels (OTC:SJJIY) and HNA Group, and China Investment Corp. are believed to be the pursuers.
- A bulk of the hotel sector is moving off the news of Chinese interest and some strong earnings reports earlier.
- Gainers: Hyatt Hotels (H +1.2%), Wyndham Worldwide (WYN +5.7%), Hilton Worldwide (HLT +1.2%), Marriott International (MAR +1.7%).
Thu, Oct. 1, 1:17 PM
- Marriott International (MAR +1.7%) is the top gaming and lodging pick of Credit Suisse.
- The sector is set to see mid-single digit RevPAR growth this year despite concerns over disrupters such as Airbnb,according to CS.
- The investment firm has a price target of $93 on MAR vs. the current price of $69.20.
Thu, Sep. 24, 6:49 AM
Thu, Sep. 10, 4:12 AM
- Companies raised $28B of investment-grade bonds in U.S. markets yesterday as the corporate-debt market roared back to life after a three-week hiatus that was partly due to worries about China.
- Nineteen companies issued debt, including Gilead Sciences (NASDAQ:GILD) with a $10B deal, home-improvement retailer Lowe’s Cos. (NYSE:LOW) and hotelier Marriott International (NASDAQ:MAR).
- Overall, firms have sold $1.2T worth of new debt in the U.S. this year, including junk-rated paper, putting the market on course to set a record for a fourth consecutive year.
- ETFs: LQD, VCSH, VCIT, VCLT, CORP, CSJ, CIU, CSI, CRED, LWC, CLY, SCPB, ITR, IGHG, QLTA, FCOR, IGS, COBO, SLQD, LQDH, QLTB, CBND, LDRI, IGU, SKOR
Thu, Aug. 6, 11:12 AM
Wed, Aug. 5, 7:23 AM
Wed, Jul. 29, 4:37 PM
Tue, Jul. 14, 7:50 AM
- Much of the beaten-up lodging REIT sector looks like a buy to Canaccord, which initiates RLJ Lodging (NYSE:RLJ), Summit Hotel (NYSE:INN), Hersha Hospitality (NYSE:HT), DiamondRock (NYSE:DRH), Strategic Hotels (NYSE:BEE), and Ashford Hospitality (NYSE:AHT) with Buy ratings.
- Rating only a Hold are Host Hotels (NYSE:HST), LaSalle Hotel (NYSE:LHO), Sunstone Hotel (NYSE:SHO), and Hospitality Properties (NYSE:HPT).
- Non-REIT lodging players, Starwood (NYSE:HOT) rates a Buy and Marriott (NASDAQ:MAR) a Hold.
Wed, Jun. 17, 2:50 PM
- Marriott (MAR +0.2%) is adding its hotel portfolio to TripAdvisor's (TRIP +14.5%) Instant Booking platform. The solution will allow TripAdvisor users to make bookings at Marriott's 4,200+ hotels without leaving its site/apps. Marriott/TripAdvisor also plan to take steps to "introduce new customers to Marriott's broad portfolio of 19 industry-leading brands."
- The deal represents a major shot in the arm for Instant Booking, which was launched only 12 months ago. TripAdvisor is better known to many users for showing listings (via its metasearch platform) that can be booked on 3rd-party platforms such as Priceline and Expedia.
- TripAdvisor has soared above $87 on the news.
Mon, Jun. 1, 8:29 AM
- Fitch Ratings boosts its estimate on U.S. RevPar in the lodging industry to 7% from 6% after seeing strong trends for the first four months of the year.
- The ratings agency cites a favorable macroeconomic backdrop and a "muted" hotel supply growth trend as supporting its outlook.
- Fitch notes that a downturn in a few leading industry indicators bears watching.
- Hotel stocks: BEL, CHH, EXPE, H, HLT, HMIN, HOT, IHG, MAR, STAY, WYN.
Marriott International Inc is an operator, franchisor & licensor of hotels and timeshare properties under different brand names. It also operates & develops residential properties and provides services to home/condominium owner association.
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