"Marriott's luxury-heavy portfolio looks insulated from inflation pinching price-sensitive travelers, yet Susquehanna's Neutral stance signals valuation is doing the heavy lifting."
"Q4 luxury RevPAR rose 6% globally, while international RevPAR climbed 6% in constant dollars, led by EMEA and APEC markets."
"Incentive management fees jumped 16% in the same quarter, signaling premium managed properties overseas are running hot."
"The firm sees asset-light fee streams holding up yet finds limited near-term catalysts until U.S. domestic demand firms."
Susquehanna raised its price target for Marriott International to $385 from $280, maintaining a Neutral rating. The luxury-heavy portfolio is seen as insulated from inflation affecting price-sensitive travelers. Analyst Christopher Stathoulopoulos also increased targets for other hotel chains but remains cautious on lower-to-mid scale platforms due to inflationary pressures. Marriott's luxury RevPAR rose 6% globally, indicating strong performance. The firm anticipates limited near-term catalysts until U.S. domestic demand improves, despite confidence in asset-light fee streams.
Read at 24/7 Wall St.
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