After plummeting in the wake of the Sept. 11 terrorist attacks, globalstocks have regained most of their value, according to a report by Sydney, Australia-based Jones Lang LaSalle Hotels.
U.S. stocks fell by as much as 50% in the months following Sept. 11, while prices dipped by nearly 30% in the Asia-Pacific and 20% in Europe. "The good, however, is that since this time, many of the stocks across the globe have traded up," notes Arthur Adler, CEO and managing director of Jones Lang LaSalle Hotels, Americas.
The report lists the stock prices of some of the industry’s most prominent hotel companies as of Sept. 10, 2001 and April 10, 2002: Starwood Hotels & Resorts Worldwide, $29.1 to $39.6, a 26.5% increase; Marriott International, $40.7 to $45.3, a 10.2% increase; Hilton Hotels Corp., $11.2 to $15.0, a 25.7% increase; FelCor Lodging Trust, $19.1 to $21.2, a 9.9% increase; Four Seasons Hotels, $46.9 to $56.0, a 16.3% increase.
"We believe we have entered the early stages of economic recovery. Looking forward, we expect demand to accelerate, supply growth to slow and RevPAR (revenue per available room) to trend upwards," says Art Buser, managing director and head of West Coast operations for Jones Lang LaSalle. "Now is considered to be a good time to buy lodging stocks here in the U.S."