Wells Fargo Raises Hotel Estimates as U.S. RevPAR Beats Expectations
Skift Take
Investment analysts say the Iran conflict's effects will be offset by continued optimism around U.S. tax refunds and a potential positive impact from the World Cup. Plus, hotel deal and development news.
Wells Fargo released its first-quarter 2026 earnings preview for the lodging C-Corps, raising first-quarter estimates across the coverage on U.S. RevPAR trending better than anticipated. Hyatt was the only one that wasn't changing, as they already had a higher outlook than the others. WF said they expect management teams to take a cautious tone on the remainder of the year, given the Iran conflict, offset by continued optimism around tax refunds and a potential positive impact from the World Cup. Marriott and Hilton remain WF's top picks. They upped their target price on HLT to $376 from $373 and MAR to $443 from $403. WF maintained Overweight ratings on both.
Gateway Jax, a developer in Jacksonville's urban core, announced a signed agreement with Marriott International and The Indigo Road Hospitality Group to open Hotel Merrydelle, a Marriott Tribute Portfolio Hotel. Formerly the Ambassador Hotel, the building is set to
