Marriott shares downgraded to SELL
Zachs.com: We are lowering our rating on shares of Marriott International (NYSE: MAR - News) from Hold to Sell following the release of Q3 financial results.
The operating environment in the lodging sector has weakened substantially in recent quarters. Additionally, the company's timeshare segment is struggling, with sales down and credit market turmoil preventing the company from completing an expected note sale.
Given our forecast for negative earnings growth in 2009, along with the ongoing uncertainty regarding the state of the economy and its potential impact on Marriott's lodging and timeshare businesses, we rate the shares a Sell at this time. Within North America, management expects that company-operated RevPAR [revenue per available room] will decline by at least 3% over the prior year. Given current conditions, we would not be surprised to see RevPAR decline exceeded these expectations.
Starwood?
Starwood Hotels & Resorts Worldwide, Inc. HOT announced today that it will release the Company’s third quarter financial results prior to market open on Thursday, October 23, 2008, followed by a conference call at 10:30am ET. We'll see what sort of bad news that will bring....
K
Zachs.com: We are lowering our rating on shares of Marriott International (NYSE: MAR - News) from Hold to Sell following the release of Q3 financial results.
The operating environment in the lodging sector has weakened substantially in recent quarters. Additionally, the company's timeshare segment is struggling, with sales down and credit market turmoil preventing the company from completing an expected note sale.
Given our forecast for negative earnings growth in 2009, along with the ongoing uncertainty regarding the state of the economy and its potential impact on Marriott's lodging and timeshare businesses, we rate the shares a Sell at this time. Within North America, management expects that company-operated RevPAR [revenue per available room] will decline by at least 3% over the prior year. Given current conditions, we would not be surprised to see RevPAR decline exceeded these expectations.
Starwood?
Starwood Hotels & Resorts Worldwide, Inc. HOT announced today that it will release the Company’s third quarter financial results prior to market open on Thursday, October 23, 2008, followed by a conference call at 10:30am ET. We'll see what sort of bad news that will bring....
K