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Hotel Sector Trading Up Amid Marcato Capital Management/InterContinental Hotels Announcement

By Insider Scoop
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Courtesy of Benzinga.

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Earlier Monday morning, Marcato Capital Management made an announcement that confirmed a rumor reported by The Wall Street Journal over the weekend that the firm is working with InterContinental Hotels Group (NYSE: IHG) to seek alternatives that may enhance shareholders' value.

Following the announcement, the hotel sector has largely received a small bump in share price.

InterContinental is up 0.43 percent, while Hyatt Hotels (NYSE: H) and Marriott International (NASDAQ: MAR) are up 0.4 and one percent, respectively.

Posted-In: News Wall Street Journal Rumors Media

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