3 Hotel Stocks Investors Should Buy Now
Trends in the last several months have been getting “less worse” in the hotel industry, said Patrick Scholes, hotel and lodging analyst at FBR Capital Markets. He told investors where they should be putting their money to work.
“It’s time to buy some of them,” Scholes told CNBC. “We’ve noticed in the transient side of the business—which is a combination of individual business travelers and leisure travelers—certainly things are getting less worse at an accelerating rate. Additionally, we’ve also seen stabilization in the group side of the business.”
In the meantime, he told investors to “wait for a little bit of a pullback” for Marriott Hotel and Starwood Hotel stocks because the valuations “look full.”
Scholes does not own shares of HOT, CHH, IGH.
FBRR Capital Markets owns and has investment banking clients who own shares of Marriott Hotel.
The company also acts as a market maker or liquidity provider for Marriott and Interval Leisure Group’s securities.