Market Overview

Starwood Hotel Shares Surging ~2% Following CEO Resignation; MLV & Co Says Investors Were Frustrated

Related HOT
Goldman Neutral On Lodging; Says Buy Marriott, Sell La Quinta
Marriott's Share Repurchases May Not Commence Until 2017

Shares of Starwood Hotels & Resorts Worldwide Inc (NYSE: HOT) are rising in Tuesday's pre-market session following the resignation of CEO Frits D. van Paasschen and the appointment of Adam Aron to Interim CEO.

MLV & Co says investors have been growing frustrated with Starwood's slower system expansion and a "murky return of capital story."

MLV expects a positive stock reaction following the news.

"While we believe uncertainty surrounding the longer-term CEO role is modest cause for concern, we also believe having someone like Aron in place makes the transition a bit smoother than otherwise," the firm wrote in a recent note.

Latest Ratings for HOT

Sep 2016CitigroupTerminatesNeutral
Aug 2016CitigroupMaintainsNeutral
Jul 2016Canaccord GenuityTerminatesHold

View More Analyst Ratings for HOT
View the Latest Analyst Ratings

Posted-In: Analyst Color Analyst Ratings Movers


Related Articles (HOT)

View Comments and Join the Discussion!