Hyatt Buys Boutique Booking Platform

• JP Morgan upgraded their rating on Accor to Neutral from Underweight with a price target of €30, up from €24.50.
• Hyatt Hotels Corporation and Mr & Mrs Smith announced an agreement for a Hyatt affiliate to acquire Mr & Mrs Smith, a platform offering direct booking access to boutique hotels.

The DJIA ended Friday up 272 points while Nasdaq was up 84, the S&P 500 rose 34 points and the 10-year treasury yield was down .08 to 3.45%. Lodging stocks were higher on the day. JP Morgan upgraded their rating on Accor to Neutral from Underweight with a price target of EUR 30, up from EUR 24.50. This follows Accor’s strong 1Q results. JPM said Accor’s pricing power […]