Although hotel stocks underperformed the broader economy in June for the fourth straight month, the market cap of the world’s largest hotel chains still recovered significantly this year.
According to data presented by Stock Apps, the combined market capitalization of Wyndham Hotels and Resorts, Choice Hotels International, Marriott International, Intercontinental Hotels Group, and Hilton Worldwide Holdings, as the five largest hotel chains in the world stood at $107.8bn last week, nearly a $12bn increase YTD.
Hilton and Marriot Hotels the Biggest Gainers, Market Cap Jumped by $8.8B in 2021
The year 2020 was probably the most challenging year for the hotel industry in decades. Although hotels worldwide implemented increased safety and sanitation measures and cautiously reopened for the summer travel season, all of them witnessed colossal revenue and market cap drops.
The first half of 2021 brought a long-expected recovery, with hotel stocks surpassing their pre-pandemic values. However, in June, the COVID-19 Delta variant brought fears of new restrictions and disruptions for the global hotel industry, causing stocks to drop again. Despite that, the market cap of the world’s largest hotel chains still recovered significantly.
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