It's seems like there is more news every week about the return of the Business Traveler. This is great news to hoteliers among others. Starwood Hotels and Resorts is boosting their 2010 outlook due to their optimism that the Road Warrior is BACK!
Starwood is projecting that their growth would be flat to up 5 percent this year; this is a change in their current outlook which was flat to negative 5 percent. On this news alone, Starwood's shares jumped 5 percent to $37.21.
To view the Reuters "U.S. Hotel Sector Performance" graph, please go to: http://graphics.thomsonreuters.com/0210/US_HOTELS0210.gif .
The graph points out the relationship between the Dow Jones Hotel Index and the month over month percent changes.
The industry is coming back!! Those out there that think there are great acquisition deals to be had, I would move quickly. This positive outlook is going to give sellers a reason to stay in and ride it out.
Call me if you have any questions or would like to discuss any acquisition / disposition deals.
Dan Hayward
PKF Capital
Sacramento, CA
916-830-2622
dan.hayward@pkfc.com
Thursday, February 4, 2010
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