As previously reported, Jefferies downgraded Host Hotels (HST) to Hold from Buy with a price target of $14, down from $20, downgraded Park Hotels & Resorts (PK) to Hold from Buy with a price target of $10, down from $19, and downgraded Xenia Hotels (XHR) to Hold from Buy with a price target of $10, down from $18. The firm, citing macro and market uncertainty and decelerating global travel, expects companies to lower RevPAR and fee guidance, particularly REITs. Among the U.S. lodging group, the firm’s sole Buy ratings remain Wyndham Hotels (WH) for its “low-RevPAR, low-leverage franchise model” and “group-stable” Ryman Hospitality (RHP), the analyst noted.
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