<div id="readability-page-1">11:43 AM EDT, 05/11/2026 (MT Newswires) -- The lodging and leisure sector delivered strong Q1 earnings, but stocks reacted modestly because expectations were already high, BofA Securities said in a note on Monday.For the quarter, 14 of 17 lodging and leisure companies beat earnings estimates by about 5% on average, according to the note.Companies also raised their 2026 earnings before interest, taxes, depreciation, and amortization outlooks by an average of 1.3%, mainly reflecting the strong Q1 results rather than higher expectations for future quarters, the analysts said.&#34;Sentiment was the highest in recent years heading into earnings, resulting in muted stock reactions,&#34; the analysts said, adding that they believe company outlooks may still be conservative.BofA raised its price targets for Apple Hospitality REIT ( APLE ) to $13.50 from $13, for Host Hotels &amp; Resorts (HST) to $23.50 from $22.00, and for Marriott Vacations Worldwide ( VAC ) to $70 from $65.Price: 13.93, Change: -0.20, Percent Change: -1.44 MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</div>

APLE

BEDZ

The lodging and leisure sector reported strong Q1 earnings, with 14 of 17 companies exceeding earnings estimates by an average of 5%. However, stock reactions were muted due to high pre-earnings expectations, according to BofA Securities. Companies raised their 2026 EBITDA outlooks by 1.3%, reflecting Q1 results rather than future expectations. BofA also increased price targets for Apple Hospitality REIT, Host Hotels & Resorts, and Marriott Vacations Worldwide. Current stock price is $13.93, down 1.44%.

Fidelity

Host Hotel & Resorts

Marriott Vacation World

Apple Hospitality Reit

Invesco Leisure & ENT ETF

AdvisorShares Hotel ETF

Bank of America

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Bank of America Corp

Lodging Sector Sees Strong Q1 Results but High Expectations Limit Upside, BofA Says