NEW YORK— According to Goldman Sachs Lodging & Gaming Weekly report, the lodging sector underperformed for the week Oct. 7-13. According to the report, “lodging stocks trailed the broader market, which was up 1.9% for the week.” The reason given by Goldman Sachs for the lodging stocks underperformance was “a difficult economic environment and consumer unwillingness to travel.” Perhaps one of the lodging players most negatively affected during the period was Wyndham International, which was down 13.2%. Goldman Sachs said the drop was likely due to investors concerns about Wyndhams financial position and its high leverage. On the other hand, MeriStar Hospitality and Starwood Hotels were up 8.2% and 6.4% respectively during the period. Goldman Sachs said some real estate value investors may have begun to look more closely at these stocks, lending to their upward movement.
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