Hilton and Marriott's Banner 2023
Skift Take
Hilton said they ended 2023 with the strongest development quarter in its history while Marriott International, Inc. announced the company’s record year of global signings with 52% more organic rooms signed in 2023 than the previous year.
The DJIA was up 138 points, Nasdaq was up 49, the S&P 500 rose 11 points and the 10 year treasury yield was down .05 to 4.09%. Lodging stocks were modestly higher. AINC traded down to another new low before bouncing on very low volume.
Baird reiterated Choice Hotels as a 2024 Best Idea. Baird said they continue to see value in CHH shares, particularly with a long-term investment horizon. While investors are solely focused on their attempt to acquire Wyndham, Baird said their positive long-term view assumes the current “What ifs” and scenario analyses with various potential outcomes will not last and clarity should emerge over the next 6-12 months. They like a setup where valuation is discounted and investor sentiment is negative, especially for a stock/business with a solid growth profile and a strong historical track record like CHH.
Park Hotels & Resorts is the latest hotel
