Truist Expresses Optimism About Travel in 2026
Skift Take
Favorable holiday shifts year-over-year, the World Cup, and 250th-anniversary tourism could all support hotel demand in 2026, says Truist. Plus, hotel deal news.
The DJIA jumped 203 points, but the stars today were the Nasdaq, up 2.7% (+599) and the S&P 500, up 1.6% (+102). The 10-year treasury yield was down .03 to 4.04%. Lodging stocks were modestly higher. AHT hit a new low and was down -7% on the day.
JP Morgan initiated coverage on Hyatt Hotels with an Overweight rating and $178 price target. They believe that over time, Hyatt’s multiple will re-rate higher and its valuation discount to larger cap C-Corp peers will tighten with each 0.5x EV/EBITDA improvement worth $7 a share. JPM also believes Hyatt’s substantial portfolio of owned hotels will likely be accretively/strategically sold over time and support ongoing capital returns to shareholders. Hyatt also offers an industry-leading 6-7% net unit growth plus a favorable footprint with outsized exposure to high-end leisure and international.
Truist held its 13th annual GLL Summit last week. The main findings included that even with all the unc
