Hotel Companies Have Been Acting Bullishly Lately


NEW YORK (AP) -- Shares of some big auberge companies acquired Thursday, as an analyst common his absolute appearance of the industry.

Rates and control levels in U.S. hotels accept been trending college back a bendable atom in aboriginal July, with backbone amid affluence and flush hotels, according to analyst Patrick Scholes of SunTrust Robinson Humphrey.

Scholes said in a agenda to audience that booking trends looked able through the additional bisected of the

Hotel companies accept been acting bullishly lately.

Last ages InterContinental Hotels Group PLC appear it will acknowledgment $1 billion to shareholders as a accolade for an access in profit. And Marriott All-embracing Inc. affairs to advance $2 billion to accessible added hotels about the apple over the abutting three years. Investors accept been concerned, however, about slowing advance in all-embracing markets including Asia.

On Thursday shares of Wyndham Corp. rose $2.65, or 5.2 percent, to abutting at $53.65 afterwards hitting a 52-week aerial of $53.84 during the session. Starwood Hotels & Resorts Worldwide Inc. climbed $2.61, or 4.8 percent, to $56.79 and Hyatt Hotels Corp. acquired $1.23, or 3.2 percent, to accomplishment at $39.28.

Marriott shares rose $1.35, or 3.6 percent, to $38.75. Intercontinental added 15 cents to $25.77. Ashford Hospitality Trust Inc. rose 24 cents, or 2.9 percent, to $8.64. FelCor Lodging Trust Inc. acquired 14 cents, or 2.9 percent, to $4.92 and LaSalle Auberge Properties rose 89 cents, or 3.3 percent, to abutting at $28.22.

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