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Fly News Breaks for September 3, 2019
APLE, HT, PK, XHR, H, RHP
Sep 3, 2019 | 10:20 EDT
Noting that the lodging industry was already experiencing a relatively week Q3 to date, Wells Fargo analyst Dori Kesten says that the impact of Hurricane Dorian over Labor Day weekend and now this week should further mute growth. Lodging companies with the largest exposure to these coastal markets, as well as Orlando whose airport closed and Miami which is still expected to experience tropical storm force winds, include Ryman Hospitality Properties (RHP), Hyatt Hotels (H), Xenia Hotels & Resorts (XHR), Park Hotels & Resorts (PK), and Hersha Hospitality (HT), with over 10% of rooms exposed, he notes. Excluding Orlando, the analyst believes those with the greatest exposure would be Hersha Hospitality, RLJ Lodging Trust, and Apple Hospitality REIT (APLE).
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