Abstract
The debate over whether lodging stocks are fairly valued may boil down to the fundamental difference between valuation for stock-buying purposes versus what constitutes a good company with profitable and valuable underlying assets. By their nature, hotel stocks are not for high-yield-seeking day traders and momentum investors, but rather for long-term value-oriented investors who are comfortable with an industry whose earnings growth depends on the vagaries of the world's economy. The author suggests such basic strategies as investing in technology, continually innovating, and selling non-strategic assets. One other tactic that would help is to educate the investing public.
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