Hotel stocks hit 52-week lows on bearish comments

Several hotel stocks hit 52-week lows Tuesday after an Oppenheimer analyst said the lodging industry continues to weaken, though he predicted some hotel operators will be able to weather the storm better than others.

Shares of hotel companies have mostly declined in the past couple of months as high gas prices and rising airfares have hurt demand at the same time that hotel supply is expanding.

Oppenheimer analyst David Katz said upscale and urban-focused companies like Gaylord Entertainment Co., Starwood Hotels and Resorts, Morgans Hotel Group and Steiner Leisure Ltd. stand the best chance of outperforming, despite a drop-off in corporate travel.

Katz gave a "Perform" rating to Choice Hotels International Inc., Marriott International and Orient-Express Hotels Ltd., which means he expects their stocks' performance to be in line with that of the S&P 500.

Revised fiscal-year outlooks are is most likely for hotels with limited service segments, Katz said.

Here's how some key hotel stocks were trading Tuesday afternoon:

Gaylord Entertainment Co. fell $1.27 to $20.07, after hitting a nearly 5-year low of $19.78.

Starwood Hotels and Resorts rose 17 cents to $37.93, after dropping to $36.73, its lowest price in roughly 4 years.

Choice Hotels International Inc. fell 45 cents to $25.20, after touching $24.85, its lowest price since 2004.

InterContinental Hotels Group rose 5 cents to $12.89, after hitting a four-year low of $12.69.

Marriott International fell 20 cents to $25.73.

Orient-Express Hotels shares fell $3.99, or 9.6 percent, to $37.76, after hitting a 52-week low of $37.