Nomura Securities Weekly Lodging Update: Upper Upscale +10.9% (MAR, H, HOT, HST)

September 7, 2012 9:32 AM EDT
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Price: $84.42 +1.71%

Rating Summary:
    20 Buy, 10 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 34 | New: 34
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Nomura Securities Weekly Lodging Update: Upper Upscale +10.9%

Analyst, Harry Curtis, said, "otal U.S. RevPAR grew 8.3% for the week ended 9/1/2012, with a modest boost from lapping hurricane Irene last year. The chain segments that most resemble the businesses of Marriott (NYSE: MAR), Hyatt (NYSE: H), Starwood (NYSE: HOT) and Host Hotels (NYSE: HST) outperformed this week. Luxury RevPAR was up +11.9%, upper upscale rose +10.9%, and upscale grew +9.7%. Over the past 28 days, total U.S. is up 8.6% and upper upscale is +8.4%. U.S. RevPAR is improving as the 3Q progresses and is now up 6.3% (upper upscale +6.3%); it is important to remember that 3Q results are heavily weighted toward September, which accounts for nearly 40% of the quarter. Our recent checks indicate that U.S. RevPAR should continue to accelerate from the traditionally weaker summer period. We continue to expect 2H12 RevPAR of ~6.5% across our coverage universe."

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