Shares of Marriott International Inc. fell more than 6% on Thursday following what analysts have described as a ‘disappointing fourth-quarter guidance’.
Despite the third quarter earnings of the hotel giant being at the top end of its guidance and an expectation that the fourth quarter targets would be achieved, analysts surveyed by Reuters felt returns were lower than expected.
There was a suggestion that leverage could be weak and that hoteliers were still suffering from a lack of business travel post recession.
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Shares in the hotel sector fell across the board at the end of last week with Starwood Hotels and Resorts Worldwide and Wyndham Worldwide Corp and Hyatt Hotels Corp all posting drops in share price.
But analysts remained optimistic in the sector and suggested that these blips could be used by investors to gain a position in lodging stocks.
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