For Immediate Release
Chicago, IL – June 01, 2022 – 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: Southwest Airlines LUV, Delta Air Lines DAL, Bally’s BALY, Marriott International MAR and Playa Hotels & Resorts PLYA.
Here are highlights from Tuesday’s Analyst Blog:
Americans Making the Most of Summer Travel Season
Memorial Day travel may be viewed as a precursor to the summer travel season. And initial forecasts indicate that Americans have had just about enough of the pandemic. While the vaccines have been an emboldening factor, they don’t explain the fact that usual economic indicators like the deteriorating consumer sentiment, rising inflation (including the higher cost of fuel and lodging), and falling real income have not been reliable indicators.
The American Automobile Association (AAA) has a forecast for the five-day period from Thursday, May 26 to Monday, May 30 that it calls the Memorial Day holiday travel period. It expects travel volumes this year to reach 92% of pre-pandemic levels in 2019.
Auto remains the most favored mode of travel accounting for 82% of total travel according to the report. It represents a 4.6% increase from last year to 93% of pre-pandemic 2019 levels. Air travel represents a 7.7% share (highest since 2011), jumping 25% from last year and given the rising ticket prices, is evidence of how rapidly air travel demand is rebounding. Travel by other modes, such as trains, buses and cruise ships are tripling from last year to make up the balance.
In January, the American Hotel & Lodging Association came out with their “State of the Hotel Industry” report, which said that a full recovery in the industry was still several years away. However, according to an analysis it commissioned, “hotel room night demand and room revenue are projected to nearly…