Hotels Screwed: Marriot (MAR), Intercontinental (IHG), Choice (CHH) Cut

Oppenheimer goes bearish on the hotel sector. The firm sees prolonged weakness in the leisure segment and expects weakening transient business travel. Three big chains cut:

Marriot (MAR) downgraded from Outperform to PERFORM, target price from $41 to $35.

Intercontinental Hotels (IHG) downgraded from Outperform to PERFORM, target price from $20 to $19.

Choice Hotels (CHH) downgraded from Outperform to PERFORM, target price from $39 to $37.

 

 

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