Ron Baron's Baron Focused Growth Fund Comments on Hyatt Hotels

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Nov 18, 2019

Shares of global hotelier Hyatt Hotels Corp. (H, Financial) detracted in the quarter on investor concerns over the potential impact of the company’s owned assets on earnings in the event that markets decline. Hyatt continues to execute on its strategy to become “asset-light” by selling assets at accretive prices. The company’s strong balance sheet positions it well should an economic slowdown occur. Hyatt continues to buy back stock with sales proceeds.

From Ron Baron (Trades, Portfolio)'s Baron Focused Growth Fund third-quarter 2019 shareholder letter.