Jefferies Downgrades Marriott and Hilton
Skift Take
- Jefferies downgraded both Marriott and Hilton to Hold, leaving only Wyndhamwith a Buy rating in their C-Corp coverage. They continue to favor Host Hotels and Hersha Hospitality.
- 1 Hotel Hanalei Bay is opening on February 15 on Kauai’s north shore. The resort will be the flagship hotel for 1 Hotels.
- The DJIA fell 113 points, Nasdaq was up 66, the S&P 500 was down 3 points and the 10-year treasury yield was down .05 to 3.52%. How was that for a mixed market?
The DJIA fell 113 points, Nasdaq was up 66, the S&P 500 was down 3 points and the 10-year treasury yield was down .05 to 3.52%. How was that for a mixed market? Lodging stocks were mostly lower even as the only movers of note were to the upside. SLNA jumped 13%, MCG was up 7% and AHT rose another 6% on the day.
Jefferies downgraded both Marriott and Hilton to Hold, leaving only Wyndham with a Buy rating in their C-Corp coverage. They continue to favor Host Hotels and Hersha Hospitality on market exposures, demand mix and balance sheet strength. Jefferies’ downgrade was based on macro concerns and that with most aspects of the recovery played out and a looming recession, the upside to earnings and valuation for bellwether stocks is limited.
Midas Enterprises, through its hospitality division Midas Hospitality, was recently named the management company for Courtyard by Marriott Dallas Northwest. The Texas&
