MARKET: These Hotel Stocks Could Double in Value! Again!
As we continue to look at industries hardest hit by the virus, we turn our attention to other travel-related industry-- hotels. Since fewer people are leaving their homes, fewer people are vacationing and staying at hotels. However, as corona virus dwindles down over the next months or years, hotel stays are expected to gradually increase.
Unlike cruise liners, which cannot operate at all, hotels are still up and running. This makes them a safer investment, as long as they can avoid bankruptcy. Also, stock prices in the hotel industry stocks have seen a steadier recovery than other parts of the travel sector.
MGM Resorts (MGM) had a "pre-corona" value of about $33/share and dropped all the way down to $7. Since then, it has been climbing relatively steadily up to $15-- more than doubling.
On a similar note, Wynnn Resorts (WYNN) saw a pre-corona high of $150 before it sunk down to $43. Like MGM, it has steadily doubled, and it currently sits at $80.
Lastly, Marriot International (MAR) dropped from $150 before the virus to about $60. It currently sits at $85 with plenty of room left to grow!
The Bottom Line: Hotels stocks could see substantial returns as the world begins to recover from corona virus, so I encourage investors to spread their risk across several different hotel chains if they are considering buying shares. A good investment now may yield very lucrative results!