HotelNewsNow.com updates the performance of publicly traded hotel companies each Friday. Included in this week’s update are: Boyd Gaming Corporation, Gaylord Entertainment Company, Orient-Express Hotels Limited, Pebblebrook Hotel Trust and Starwood Property Trust.
Baird/STR Hotel Stock Index
The Baird/STR Hotel Stock Index was at 2370.68 as of 10 a.m. this morning. It closed Thursday at 2357.72.
Also, the stock index ended December at 2364, a 7.5% increase for the month. The index ended 2010 with a 47.5% increase over 2009, when it finished at 1603.
Boyd Gaming Corporation
Analysts at Barclays increased the price target of Las Vegas-based Boyd (NYSE: BYD) Gaming Corporation from US$7 per share to US$13, according to a report from American Banking & Market News. The rating on the stock is “overweight.”
The stock closed Thursday at US$11.64 per share and is up 39.1% during the past 12 months.
Gaylord Entertainment Company
Nashville, Tennessee-based Gaylord Entertainment Company (NYSE: GET) was upgraded to “outperform” from “neutral,” according to American Banking & Market News.
The company’s stock is up 69.2% during the past 12 months after closing Thursday at US$35.32 per share.
Orient-Express Hotels Limited
Orient-Express Hotels Limited of Hamilton, Bermuda, (NYSE: OEH) was upgraded to “overweight” from “neutral” by JPMorgan, according to a Bloomberg report.
The company’s target price also was increased to US$17 from US$11. JPMorgan analyst Joseph Greff said in a client note the company’s exposure to the luxury segment will help boost prospects.
The company’s stock closed Thursday at US$35.32 per share. It is up 78.8% during the past 12 months.
Pebblebrook Hotel Trust
Bethesda, Maryland-based Pebblebrook Hotel Trust (NYSE: PEB) has secured a US$31-million, 5.44%, secured a debt financing deal with UBS Real Estate Securities.
The loan is collateralized by a first-mortgage on the 256-room Skamania Lodge in Stevenson, Washington, and proceeds from the loan will be used to fund future acquisitions and for general corporate purposes.
Pebblebrook’s stock closed Thursday at US$20.93, down 4.9% during the past 12 months.
Starwood Property Trust
Starwood Property Trust is offering 432,292 shares and raising up to US$9.1 million as part of an offering. All proceeds will go to the selling shareholders.