Accor and Hyatt Continue European Expansion

• Jefferies downgraded Marriott Vacations to “Hold” from “Buy” and reduced their target price, expressing concerns over the macroeconomic outlook, particularly in consumer credit and interest rates.
• The 2023 survey from the Hospitality Asset Managers Association indicates optimism about RevPAR’s return to 2019 levels, while various hotels announce new completions, renovations, and sales across the U.S.
• Key personnel appointments are announced in major hotel groups, and international brands like Wyndham, Accor, and Hyatt unveil expansion plans and new properties in locations such as Barbados, France, and Spain.

Jefferies said they downgraded Marriott Vacations to Hold from Buy, putting them in line with their rating on the other time shares stocks, Hilton Grand Vacations and Travel + Leisure, both also at Hold.  Jefferies said the concerns over the macroeconomic outlook, notably consumer credit and interest rates, are driving a separation of timeshare business merits […]