UBS Maintains a 'Buy' on Starwood Hotels & Resorts (HOT); Occupy This

UBS maintains a 'Buy' on Starwood Hotels & Resorts (NYSE: HOT) price target cut from $70 to $67.

UBS analyst says, "Occupancies Back To 2007: Cushion To Grow ADR - HOT management indicated that occupancies in developed markets are back to 2007 levels which allows cushion for solid ADR growth for next year, though there is recognition that macro uncertainties still prevail. We think the macro uncertainty is reflected in management’s 2012 RevPAR guidance of +4-8%, which was a wide range and consistent with the RevPAR guidance issued by MAR (+3-7% in constant FX) earlier. HOT not seeing any slowdown in transient booking trends."

For more ratings news on Starwood Hotels & Resorts click here and for the rating history of Starwood Hotels & Resorts click here.

Shares of Starwood Hotels & Resorts closed at $52.60 yesterday.

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