Several hotel stocks hit 52-week lows Tuesday after an Oppenheimer analyst said the lodging industry continues to weaken, though he predicted some hotel operators will be able to weather the storm better than others.
Shares of hotel companies have mostly declined in the past couple of months as high gas prices and rising airfares have hurt demand at the same time that hotel supply is expanding.
Oppenheimer analyst David Katz said upscale and urban-focused companies like Gaylord Entertainment Co., Starwood Hotels and Resorts, Morgans Hotel Group and Steiner Leisure Ltd. stand the best chance of outperforming, despite a drop-off in corporate travel.
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