Wednesday, July 1, 2009

Hotel operators' shares stumble after analyst downgrade

NEW YORK, July 1 (Reuters) - The stock of three major hotel operators stumbled on Wednesday after a Barclays Capital hotel analyst downgraded the companies, saying they were vulnerable to continued weakness in the industry over the next year.
Starwood Hotels & Resorts (HOT.N), Marriott International (MAR.N) and Choice Hotels International, Inc (CHH.N) all dropped more than 3 percent in early trading on the New York Stock Exchange. An index of hotel stocks .DJUSLG fell more than 3 percent.

Read more:
http://www.reuters.com/article/marketsNews/idINN0149973620090701?rpc=44

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