Fox Business
Expand
Browse All Video
Watch Live

You're watching...

High Costs Hurt Hotel Earnings

Details

  • Description

    FBN's Sandra Smith on the latest buy, sell and holds on hotel earnings.

  • Duration 1:11
  • Date

Clips

Also in this playlist...

Markets Now

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

The cost increases -- hitting the cartel industry and hurting the bottom line.

As Hyatt hotels and MGM reported earnings today Sandra Smith joins us with today's trade -- And expenses.

Hurting Hyatt hotels the -- actually down about 4% right now there -- some good in some bad their occupancy rates were up the average nightly rate was up business travel is bouncing back but.

-- they have some expenses tied to brand launches as well bad debts in legal fees by the way that's a stock that investors are not happy with them a year.

One year basis that's pretty much flat has gone nowhere sitting at about 41 -- change right now.

MGM resorts the other stock that we're watching right now it's down by just about as much down about 4% on the session give you -- one week chart just to give you an idea of the drop that we're seeing in the shares here.

Bit bigger than expected loss.

But -- good in the reason why a lot of analysts still see that this stock is -- after this earnings miss.

Its revenues were up 51%.

And actually they're seeing a lot of growth especially over -- Macau.

They're seeing a lot of foot traffic and a lot of people -- into the hotels and resorts so you -- stocks getting hit hard today the outlook is deftly got itself and the analyst that's great news for the overall economy -- they can't get.

Load More