2024-02-16 17:42:47 ET
Summary
- Marriott International's stock price has risen to $237.88, exceeding my prior target of $210.
- Modest growth in RevPAR and a decline in the Ritz-Carlton's average daily rate indicate a plateau in demand for higher-priced brands.
- I rate Marriott International as a hold in the short to medium term.
Investment Thesis
I rate Marriott International as a hold at this time and will be watching RevPAR growth in China as well as overall RevPAR growth heading into the summer months to determine if an upside is possible for the stock once again....
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Marriott International: RevPAR Growth Seeing Normalization