Why Hotel and Vacation Stocks Popped on Monday
Shares of hotel and vacation stocks soared on Monday after Pfizer announced positive data from its COVID-19 study. Shares of Hyatt Hotels (NYSE: H) jumped as much as 26.8% and are up 20.7% at 3:30 p.m. EDT. Shares of competitor Hilton Worldwide Holdings (NYSE: HLT) were up 24.9% at their peak and are now up 12.7%.
Vail Resorts (NYSE: MTN) and Las Vegas Sands (NYSE: LVS) own hotels, as well, but they're much more concerned with overall travel spending recovering at their resorts. Investors pushed their shares higher by 23.5% and 14.8%, respectively, at their peaks. As of this writing, Vail is still up 11.3%, while Las Vegas Sands is up 9.7%.
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Source Fool.com
