JP Morgan lifts PTs of US hotel operators on revenue growth

Travel + Leisure

19/07/2024 14:38

** J.P. Morgan lifts PT of Hilton Worldwide  HLT.N  to $216
from $200, Hyatt Hotels  H.N  to $180 from $171, Marriott
International  MAR.O  to $255 from $235 and Travel + Leisure Co
 TNL.N  to $63 from $53
    ** Sees U.S. revenue per available room (RevPAR) and
occupancy picking up sequentially in Q2 2024
    ** "We are not seeing any impact from still higher capital
costs and macro uncertainties with U.S. and global development
pipelines up" - JPM
    ** YTD; HLT had risen 20%, H up 17%, MAR up 8% and TNL up
~23%

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))