WYNN
is now approaching a VERY important level right now at the 50 fib line. Using the pandemic low as the anchor and this year's high, some important levels have begun to reveal themselves. Right now the 50 fib sits right around $90 (about $1 off Wednesday's level). With new Delta data coming out, people seem a bit skittish about travel and leisure. So where to go from here? Upcoming earnings are near-term potential catalysts, meanwhile, it's still a bit up in the air which way the wind will blow when it comes to potential lockdowns/ restrictions, etc. If you look at what the outlook seemed to be earlier in the year before the Delta data started flowing, optimism was apparent: Travel Pulse recently shared findings from a survey of more than 5,800 respondents. Here are some of the findings:
-61% feel hopeful about travel in 2021, of whom 83% will take two or more domestic trips, and 44% plan for two or more international getaways.
-Approximately 83 % of hopeful respondents plan to take at least two domestic trips, and about half as many (44%) are targeting two or more international getaways in 2021.
-More than one-third of respondents (35%) indicated the importance of face mask requirements.
When you factor in the outlook for the hotel industry, prospects appear brighter than some may think. The American Hotel & Lodging Association expects a few key hot points to lead growth:
- Hotel occupancy in the United States for 2021 is expected to average 52.5%, up from 44% in 2020.
- Occupancy rates are projected to rebound more significantly in 2022, reaching 61.4%.
- Hotel room revenue is expected to climb from $85 billion last year to $110 billion this year
- Business travelers are expected to be a driving force for a return to leisure travel.
Early aspects and Read More: Looking For Penny Stocks To Buy Now? 5 Travel & Hotel Stocks To Watch