The year 2012 is likely to end on a positive note for the hotel & lodging industry, with lodging performance indicators witnessing considerable improvement in most parts of the world. In the recently concluded third quarter of 2012, most of the sector heavyweights — Starwood Hotels and Resorts Worldwide Inc. (HOT), Marriott International Inc. (MAR), Wyndham Worldwide Corp. (WYN) and Hyatt Hotels Corp. (H) — surpassed their earnings expectations. However, global economic and political issues like sovereign debt, currency fluctuation, the U.S. fiscal cliff and sustained economic instability in various countries will continue to affect lodging companies in the first half of 2013. Notwithstanding the hurdles expected ahead, the lodging sector should continue its recovery into next year. International travel and tourism volumes are anticipated to increase. Both Starwood and
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