Zacks -- Shares of Marriott (MAR - Analyst Report) have rallied approximately 85% from the lows reached in early March. Shares of Starwood (HOT - Analyst Report) have climbed even higher, rallying roughly 150% since early March. Shares of other companies in the industry, including Intercontinental Hotels Group (IHG - Snapshot Report) and Wyndham Worldwide (WYN - Snapshot Report), have made similar moves. Given the current state of industry fundamentals, and our expectation that operating metrics will continue to deteriorate, we consider the magnitude of these moves to be excessive.
