NEW YORK— Steven Kent, hospitality analyst/Goldman Sachs, hosted a conference call on January 7, previewing the lodging and gaming industries quarterly earnings. During the call, Kent projected that the lodging industry will continue to make money during the upcoming quarterly earnings season. Kent expects MeriStar Hospitality, Starwood Hotels & Resorts, and Hilton Hotels Corp. to be potential upside surprises in the fourth quarter of 2001, and Four Seasons to be a potential miss. Looking long term, Kent believes that all hotel stocks are well positioned for continued out-performance. Decelerating supply growth, the need for upward estimate revisions in 2002 and 2003, and more visible management teams are just a few catalysts expected to move shares upward over the next several months. —Diana M. Rodriguez
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