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Marriott: More Downside Ahead
By Zacks Investment Research on February 14, 2009 | More Posts By Zacks Investment Research | Author's Website
Marriott International Inc. (NYSE:MAR) is a leading worldwide hospitality company with a primary focus on property management and franchising. We maintain our Sell rating on shares of Marriott, following the release of 4th quarter results.
The operating environment in the lodging sector is expected to remain weak throughout 2009 with substantial RevPAR declines forecasted. Additionally, the company’s timeshare segment is struggling, with sales down and credit market turmoil preventing the company from completing note sales.
Given our forecast for negative earnings growth in 2009, along with the ongoing uncertainty regarding the state of the economy and its potential impact on Marriott’s lodging and timeshare businesses, we rate the shares a Sell at this time.
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