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The Zacks Analyst Blog Highlights Civeo, Hilton Grand Vacations and InterContinental Hotels
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For Immediate Release
Chicago, IL – November 24, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Civeo Corporation (CVEO - Free Report) , Hilton Grand Vacations (HGV - Free Report) and InterContinental Hotels Group PLC (IHG - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
3 Hotel Stocks to Buy Ahead of the Holiday Travel Period
The post-pandemic travel boom is projected to continue into this year's holiday season as an increasing number of Americans plan to go on leisure trips. Multiple airlines have already announced their plans to handle record air traffic, and hotels are gearing up to welcome guests.
Given this scenario, it would be ideal to invest in hotel stocks like Civeo Corporation, Hilton Grand Vacations and InterContinental Hotels Group PLC, which are expected to benefit in the near term.
Americans Gear Up to Travel
Nearly 48% of Americans plan to hit the roads between Thanksgiving and mid-January compared to 31% in 2022, according to a Deloitte survey. Of those traveling, 56% plan to stay in hotels, a solid jump from last year's 35%.
Also, holiday budgets are up although the trip duration has shortened marginally. An average traveler plans to shell out $2,275. Moreover, those traveling plan to spend 15% more on leisure travel this holiday season compared to 2022.
Baby boomers are expected to significantly contribute to the increase in travel this season. While they made up only one-fifth of the traveling population during the holidays in 2022, it is expected that this year, their proportion will rise to nearly one-third.
Millennials are planning an average of 2.2 trips over the holidays, while Gen Z travelers are planning an average of 2.1 trips. Notably, one in four Gen Z travelers plans to significantly increase the budget from 2022, marking the highest proportion among all generations.
This comes as the AAA expects that at least 55.4 million travelers will embark on journeys of at least 50 miles from home during the Thanksgiving period alone, up 2.3% from 2022.
Price pressures have been posing a major challenge for consumers and the travel and leisure sector. Hotel rooms are pricier, which was already 0.8% higher in October compared to the same period in 2022.
The pandemic saw the travel industry taking a major hit, with airlines and hotels suffering the most. However, the pandemic fears appear to be over and people are willing to travel and spend more despite high prices. Last year, one in five nontravelers cited health concerns following the pandemic. This year, the number halved with one in 10 nontravelers saying that they want to avoid trips for the same reason.
Our Choices
Hotels are poised to benefit from the significant jump in the number of travelers who plan paid lodging. Thus, investing in hotel stocks would be a prudent choice.
Civeo Corporation is a provider of long-term and temporary remote site accommodations, logistics and facility management services. CVEO operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States.
Civeo Corporation has an expected earnings growth rate of 354.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 204.2% over the last 60 days. CVEO currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Hilton Grand Vacations is engaged in the hospitality business. HGV markets and operates vacation ownership resorts. Hilton Grand Vacationsalso manages and serves club membership programs, which include Hilton Grand Vacations Club and The Hilton Club.
Hilton Grand Vacations' expected earnings growth rate for the current year is 24.3%. The Zacks Consensus Estimate for current-year earnings has improved 0.5% over the past 60 days. HGV currently carries a Zacks Rank #2.
InterContinental Hotels Group PLC offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels. IHG owns, manages, franchises, and leases hotels across all continents.
InterContinental Hotels Group's expected earnings growth rate for the current year is 30.5%. The Zacks Consensus Estimate for current-year earnings has improved 0.8% over the past 30 days. IHG currently carries a Zacks Rank #1.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Civeo, Hilton Grand Vacations and InterContinental Hotels
For Immediate Release
Chicago, IL – November 24, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Civeo Corporation (CVEO - Free Report) , Hilton Grand Vacations (HGV - Free Report) and InterContinental Hotels Group PLC (IHG - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
3 Hotel Stocks to Buy Ahead of the Holiday Travel Period
The post-pandemic travel boom is projected to continue into this year's holiday season as an increasing number of Americans plan to go on leisure trips. Multiple airlines have already announced their plans to handle record air traffic, and hotels are gearing up to welcome guests.
Given this scenario, it would be ideal to invest in hotel stocks like Civeo Corporation, Hilton Grand Vacations and InterContinental Hotels Group PLC, which are expected to benefit in the near term.
Americans Gear Up to Travel
Nearly 48% of Americans plan to hit the roads between Thanksgiving and mid-January compared to 31% in 2022, according to a Deloitte survey. Of those traveling, 56% plan to stay in hotels, a solid jump from last year's 35%.
Also, holiday budgets are up although the trip duration has shortened marginally. An average traveler plans to shell out $2,275. Moreover, those traveling plan to spend 15% more on leisure travel this holiday season compared to 2022.
Baby boomers are expected to significantly contribute to the increase in travel this season. While they made up only one-fifth of the traveling population during the holidays in 2022, it is expected that this year, their proportion will rise to nearly one-third.
Millennials are planning an average of 2.2 trips over the holidays, while Gen Z travelers are planning an average of 2.1 trips. Notably, one in four Gen Z travelers plans to significantly increase the budget from 2022, marking the highest proportion among all generations.
This comes as the AAA expects that at least 55.4 million travelers will embark on journeys of at least 50 miles from home during the Thanksgiving period alone, up 2.3% from 2022.
Price pressures have been posing a major challenge for consumers and the travel and leisure sector. Hotel rooms are pricier, which was already 0.8% higher in October compared to the same period in 2022.
The pandemic saw the travel industry taking a major hit, with airlines and hotels suffering the most. However, the pandemic fears appear to be over and people are willing to travel and spend more despite high prices. Last year, one in five nontravelers cited health concerns following the pandemic. This year, the number halved with one in 10 nontravelers saying that they want to avoid trips for the same reason.
Our Choices
Hotels are poised to benefit from the significant jump in the number of travelers who plan paid lodging. Thus, investing in hotel stocks would be a prudent choice.
Civeo Corporation is a provider of long-term and temporary remote site accommodations, logistics and facility management services. CVEO operates in active oil, coal, natural gas and iron ore producing regions, including Canada, Australia and the United States.
Civeo Corporation has an expected earnings growth rate of 354.6% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 204.2% over the last 60 days. CVEO currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Hilton Grand Vacations is engaged in the hospitality business. HGV markets and operates vacation ownership resorts. Hilton Grand Vacationsalso manages and serves club membership programs, which include Hilton Grand Vacations Club and The Hilton Club.
Hilton Grand Vacations' expected earnings growth rate for the current year is 24.3%. The Zacks Consensus Estimate for current-year earnings has improved 0.5% over the past 60 days. HGV currently carries a Zacks Rank #2.
InterContinental Hotels Group PLC offers information and reservations capability on the Internet for InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn hotels, Holiday Inn Express hotels, and Staybridge Suites by Holiday Inn hotels. IHG owns, manages, franchises, and leases hotels across all continents.
InterContinental Hotels Group's expected earnings growth rate for the current year is 30.5%. The Zacks Consensus Estimate for current-year earnings has improved 0.8% over the past 30 days. IHG currently carries a Zacks Rank #1.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.