Hotel & leisure firms fall after Berstein cuts PT on travel weakness

Shares of Hilton Worldwide down 1% to $253, Hyatt down 1.3% to $133, and Marriot International down 1% to $271 , in early trade

Bernstein cuts price target on hotel & leisure co's Hilton Worldwide HLT.N , Hyatt Hotels H.N , and Marriot InternationalMAR.O on expected softer demand in the industry

Brokerage keeps ratings for Hyatt and Marriot unchanged at 'outperform' and Hilton remains at 'market-perform'

Adds travel demand has weakened from early year expectations , with the U.S. revenue per available room(RevPAR) for hotels expected to be flat

"Into Q1 results much of the focus from investors has been on the potential macroeconomic disruption resulting from the implementation of tariffs, with hotel stocks suffering on fears that the stress on consumers as a result of tariff implementation would lead to a material decline in lodging spend"- Bernstein

Says Hilton's FY 25 RevpPAR guidance the lowest among peers, co's RevPAR growth 1.5% lower than Marriott, and 1% lower than Hyatt

S&P 500 Hotels, Resorts & Cruise Lines (Sub Ind) up 3.1% YTD .SPLRCHOTL