Playa Hotels & Resorts (PLYA) is Oppenheimer's Favorite Way to Play Strong Leisure Demand

Oppenheimer analyst Tyler Batory reiterated an Outperform rating and $14.00 price target on Playa Hotels & Resorts (NASDAQ: PLYA), saying it is their favorite way to play strong leisure demand.

The analyst commented, "PLYA is a top idea in our coverage universe. We think the current valuation (8.6x our 2023E EBITDA) offers an attractive entry point. Bookings are robust, and we see multiple catalysts for further share price appreciation. We also think PLYA has a superior business model to full-service hotels. This should contribute to faster growth and higher margin than full-service lodging REITs even if there is a slowdown in economic growth and consumer spending."

For an analyst ratings summary and ratings history on Playa Hotels & Resorts click here. For more ratings news on Playa Hotels & Resorts click here.

Shares of Playa Hotels & Resorts closed at $8.97 yesterday.

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