Economic Trends

Hotel stocks gain ground Thursday

7 Sep, 2012

Bloomberg Businessweek reports that some big hotel companies gained stock share Thursday, following a note from SunTrust Robinson Humphrey analyst Patrick Scholes that said booking trends look strong through the rest of 2012.

Bloomberg cited Thursday stock activity from Wyndham Corp. (up $2.65 to close at $53.65), Marriott International (up $1.35 to close at $38.75), Starwood Hotels & Resorts Worldwide (up $2.61 to close at $56.79), InterContinental Hotels Group (up 15 cents to close at $25.77) and Hyatt Hotels Corp. (up $1.23 to close at $39.28).

Public hotel real estate investment trusts also rose stock share on Thursday, according to the report. Ashford Hospitality Trust rose 24 cents to close at $8.64, FelCor Lodging Trust rose 14 cents to close at $4.92 and LaSalle Hotel Properties gained 89 cents to close at $28.22.


Topic : Stocks
External Source : Bloomberg Businessweek

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