Pebblebrook, RLJ Lodging, Others Set for Q2 Upside on Strong Hotel Demand, BofA Says

MT Newswires Live07-21

Pebblebrook Hotel Trust (PEB), RLJ Lodging Trust (RLJ), DiamondRock Hospitality (DRH), and Apple Hospitality (APLE) are expected to benefit from stronger US hotel demand heading into Q2, supported by healthy RevPAR trends and World Cup-related demand, BofA Securities said in a note Monday

The firm said RevPAR during the quarter was up 5.7% year-over-year, driven by luxury hotels, urban/resorts, and weekday demand. The World Cup provided an additional boost, contributing an estimated 75 basis points to Q2 RevPAR growth, with the biggest benefit going to higher-end hotel chains.

"The gap between the high and low end in hotels actually widened through the quarter, though if the World Cup is the cause, the data will converge starting next week," the firm added.

For lodging real estate investment trusts, the firm expects Q2 RevPAR growth of 4.7%, about 125 basis points above Street expectations. It also projects all lodging REITs to beat estimates, with potential for modest Q3 estimate increases.

BofA raised price targets on Pebblebrook Hotel Trust to $16.50 from $14, RLJ Lodging Trust to $10.50 from $9.25, DiamondRock Hospitality to $13 from $12.50, and Apple Hospitality to $16 from $15.

Price: 19.45, Change: +0.44, Percent Change: +2.31

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It also projects all lodging REITs to beat estimates, with potential for modest Q3 estimate increases.</p><p>BofA raised price targets on Pebblebrook Hotel Trust to $16.50 from $14, RLJ Lodging Trust to $10.50 from $9.25, DiamondRock Hospitality to $13 from $12.50, and Apple Hospitality to $16 from $15.</p><p>Price: 19.45, Change: +0.44, Percent Change: +2.31</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7067","symbol_name":"生物科技","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2653179502","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2653179502","pubTimestamp":1784565399,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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