About 10,000 Hotel Workers Walk Off the Job on Labor Day Weekend

Published On Sep 1, 2024, 12:23 PM

Around 10,000 hotel workers from major chains like Marriott, Hyatt, and Hilton have gone on strike in multiple U.S. cities, aiming to disrupt Labor Day weekend travel due to stalled contract negotiations. This labor action reflects demands for higher wages and the restoration of services and staffing levels that were cut during the pandemic. Currently, the union UNITE HERE is set to conduct rolling strikes lasting two to three days in several key hospitality markets, potentially impacting operations during a peak travel weekend.

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Stock Forecasts

MARView MAR chart on TradingView

Positive

The rolling strikes are likely to put upward pressure on wages in the hotel industry as companies may need to offer better compensation to retain and attract staff once operations normalize.

HView H chart on TradingView

Negative

In the short term, hotel stocks may face downward pressure due to the operational disruptions and potential cancellations during the busy Labor Day weekend, impacting revenue.

HView H chart on TradingView

Negative

If negotiations lead to wage increases, this may impact profit margins for hotels like Hyatt and Hilton, necessitating a long-term watch on how this affects their stock performance.

XHBView XHB chart on TradingView

Negative

Investors in travel and hospitality ETFs may see volatility due to these labor actions, which can affect overall market sentiment regarding the sector.

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