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Fly News Breaks for March 25, 2015
DRH
Mar 25, 2015 | 07:04 EDT
SunTrust's industry checks indicate significant weakness in forward bookings due to FX impact on international tourism, lower oil prices, and increased supply. The firm said companies with the most exposure to New York City, Los Angeles, Hawaii, Miami, Seattle, and Houston have the most risk. Additionally, SunTrust said Q2-Q3 U.S. Upper Upscale RevPAR tracking is only tracking to the low-end of the +4-6% range. Due to exposure to the markets at risk, SunTrust downgraded DiamondRock to Reduce and maintained its $14 price target.
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