Hedgeye CEO Keith McCullough is adding Park Hotels & Resorts (PK) to the short side of Investing Ideas. Below is a brief note.
Not all REITS are longs in #Quad3. In back-tested-fact, as a subsector of REITS, hotels (and hotel REITS) are bloody awful in #Quad3...
Think about why? Slowing revenues into sticky/rising costs...
Gaming, Lodging, & Leisure analyst Todd Jordan reiterated what's been a great #Quad3 short: Park Hotels (PK). On The Call @Hedgeye this morning he reminded us that PK has 20% exposure to Hawaii.
Sellem on green, after they bounce,
KM
