Shares of global hotelier Hyatt Hotels Corp. (NYSE:H) increased in the first quarter on revenue per available room (RevPAR) and margins that beat analyst predictions and 2016 RevPAR guidance of 3–5%. The company continues to generate strong free cash flow that it is using to buy back its stock and invest in its hotels. In our opinion, Hyatt still has one of the strongest balance sheets in the industry. We think it will continue to buy strategic assets as they become available. We also think Hyatt is well-positioned to weather a downturn. (David Baron)
From Baron Partners Fund first quarter 2016 commentary.
