Why Hotel Stocks Plunged Double Digits on Monday [The Motley Fool]
Marriott International - Class A (MAR)
Last marriott international - class a earnings: 2/26 04:30 pm
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investor.shareholder.com/mar
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Source: The Motley Fool
Why Hotel Stocks Plunged Double Digits on Monday Hotels are shutting down and that's bad news for these brands. Shares of hotel brands plunged again on Monday as the COVID-19 reaction has started shutting down travel across the world. Marriott International 's ( NASDAQ:MAR ) shares were down as much as 18.3% in early trading, Hyatt Hotels ( NYSE:H ) dropped 20.1%, and Hilton Worldwide Holdings ( NYSE:HLT ) shares were down 18.8%. Shares of each company recovered some of those losses throughout the day and at 2:40 p.m. EDT were down 7.4%, 9.6%, and 10.7% respectively. There are multiple layers to the news today, but the EU has proposed a ban on non-essential travel to Europe, the U.S. is already limiting travel from Europe, and airlines are cutting capacity to keep from flying empty airplanes. Hotels are downstream from the airline industry, but if people aren't traveling they aren't staying at hotels, so there is going to be a big impact on hotel brands. Most hotels in the Marriot
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News
- 4AIR Awarded Prestigious Recognition by Environment+Energy [Yahoo! Finance]Yahoo! Finance
- Leaders from Fortune 100 Best Companies to Work For To Share Insights at For All Summit May 7-9 [Yahoo! Finance]Yahoo! Finance
- Marriott International, Inc. (NASDAQ: MAR) had its price target lowered by analysts at Mizuho from $263.00 to $260.00. They now have a "neutral" rating on the stock.MarketBeat
- 2024 NFL draft 101: What it's about and how it works [CBS News]CBS News
- Hospitality Leaders from Marriott, Hilton, Accor, Hyatt, IHG, Among Others, to Converge at the NYU International Hospitality Industry Investment Conference, June 2-4, in NYC [Yahoo! Finance]Yahoo! Finance
MAR
Earnings
- 2/13/24 - Beat
MAR
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 3/29/24 - Form 4
- MAR's page on the SEC website