Which Gaming And Lodging Stocks Are Exposed To International inbound Travel And China?
Benzinga (Mon, 14-Apr 6:07 PM)
Following Bank of America Securities’ recent notes amid tariff-induced volatility, it also published some key data on questions it regularly receives.
International inbound travel makes up only ~5% of U.S. room nights and 3% of arrivals. However, international travelers stay longer, spend more, and are mostly leisure travelers.
The largest source market is Canada (40% of international room nights and 28% of arrivals), followed by Europe and Mexico.
Also Read: Tariff Tensions Could Hurt US GDP As Canadian Tourism Cools: Goldman Sachs
Las Vegas has 10% international visitors, and ~15% of gaming revenue is high-end baccarat, some of which is Asia-sourced.
BofA Securities noted that international inbound did not fully recover post-pandemic, given flight capacity and the dollar.
International revenue is 20-40% for Lodging C-Corps, and China accounts for 5-9% of fees for Marriott International ...
