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I raised my investment rating for Hyatt Hotels Corporation (NYSE:H) from a Hold to a Buy. H is now trading at a discount to its key hospitality peers based on the EV/EBITDA valuation metric, and I view favorable
Hyatt Hotels: Favorable Internal And External Developments (Rating Upgrade)
Summary
- The positive internal developments for Hyatt are the increase in leisure travel revenue exposure and the growth in asset-light businesses' earnings contribution.
- H also benefits from external developments relating to the Fed's rate cut and China's policies to strengthen the economy.
- Hyatt is trading at a lower EV/EBITDA multiple as compared to its peers, and I think that there are re-rating catalysts in the form of favorable internal and external developments.
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