#4 - Marriott International (NASDAQ:MAR)
According to CBRE, RevPAR (revenue per available room) is supposed to increase by 3% in 2024. This was after reaching a record high in 2023. Marriott International Inc. (NASDAQ: MAR) is a solid pick if you're looking for travel stocks in the hotel niche.
The CBRE report cites international travel and increased convention traffic as key reasons for the expected increase in RevPAR. Marriott excels in both areas. As evidence, the company cited global RevPAR growth of 6% in the first quarter and said that RevPAR growth is consistent for all of its customer segments.
With a forward P/E ratio of 24x, MAR stock isn't necessarily cheap. That's reflected in the fact that analysts have a consensus Hold rating on the stock. However, analysts' expectations for 14% earnings growth could support higher stock prices, particularly if interest rates come down.
About Marriott International
Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, City Express by Marriott, and St.
Read More - Current Price
- $278.78
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 13 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $259.00 (7.1% Downside)
