Jefferies Provides Color on Gaming Industry

Jefferies attended meeting with the management of Hersha Hospitality HT. In a research report published today, Jefferies states, “We believe HT's 2011 outlook reconfirms what other operators consider to be a back-end loaded year, and 2Q has progressed well. We believe HT will benefit from ADR growth given its transient customer base and limited new supply in key markets. The recent LA acquisition supports our view on continued transaction activity for HT and the group although we continue to believe full service urban properties will outperform limited service.” At the moment, Jefferies has a Hold rating placed on the company's stock. On Thursday, Hersha closed the day at $5.47. Jefferies also attended a meeting with the management of Gaylord Entertainment GET. The report states, “GET provided further color regarding its recently announced Denver project which we believe provides a substantial growth opportunity as it gives the company a presence in the West. Further, we note that the company's overall strategy of holding back inventory to drive pricing power should pay off over the long term. We maintain our view that the recovery for GET is yet to play out and is not priced into the shares.” At the moment, Jefferies has a Buy rating placed on the company's stock. On Thursday, Gaylord finished the day at $30.16.