Marriott downgraded on valuation, lackluster hotel bookings

A pedestrian pulls luggage behind him as he walks outside a Marriott hotel in New York.
Daniel Acker | Bloomberg | Getty Images

SunTrust Robinson Humphrey lowered its rating for Marriott to hold from buy, saying the company's earnings results will come in below expectations this year.

"Material upside assumes a big leap of faith from here … The real challenge we have in continuing to recommend the stock is we believe it has already priced-in an optimistic best-case scenario," analyst C. Patrick Scholes wrote in a note to clients Tuesday. "We attach a low likelihood of the 2018 'best case scenario' being achieved."