Jefferies Says Marriott, Hilton, Wyndham Are Best Positioned in Current Hotel Environment
Skift Take
Jefferies described its NYU/NAREIT meetings as being among the most constructive in recent memory. Plus, other hotel deal and development news.
Jefferies described its NYU/NAREIT meetings as being among the most constructive in recent memory. Key takeaways included limited new hotel supply growth, which — combined with sustained strength in group and leisure demand — is expected to support continued RevPAR growth. June, supported by the World Cup, is expected to represent the strongest month of the second quarter. Jefferies also described the AI transition as being in the very early stages. Jefferies believes Marriott, Hilton, and Wyndham are best positioned to benefit in the current environment. It also came away more constructive on lodging REITs, where they favor RHP, given the strength of the business model and earnings visibility.
Also positive on lodging REITs, but becoming a bit more balanced is Baird. It sees solid fundamental trends, easy year-over-year comparisons, and an upward bias to estimates. Their estimates and price targets are increasing across the board, post-NAREIT. The high end continues
