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<title>UBS Research: Leisure</title>
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<description>UBS Research: Leisure</description>
<language>en</language>
<copyright>Copyright (C) UBS 2008. All rights reserved.</copyright>
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<webMaster>eMarketing@ubs.com</webMaster>
<pubDate>Mon, 6 Oct 2008</pubDate>
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<item>
<title><![CDATA[LG Electronics "Facing challenges in the handset industry" (Neutral) Kim]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40968|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Emerging Markets</li><br><li>Asia</li><br><li>Korea</li><br><li>Asia Pacific</li><br><li>Asia Pacific Ex. JP</li><br><li>Asia Emerging</li><br></ul><br><em>Sectors</em><br><ul><li>Global Consumer Electronics</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Korean Consumer Electronics</li><br><li>Asian Consumer Electronics</li><br><li>Asian Consumer, Cyclical</li><br><li>Asian Leisure Goods &amp; Services</li><br><li>Korean Consumer, Cyclical</li><br><li>Korean Leisure Goods &amp; Services</li><br><li>Asian Cyclical Goods &amp; Services</li><br><li>Korean Cyclical Goods &amp; Services</li><br><li>Asian Pacific Cyclical Goods &amp; Services</li><br><li>Asian Pacific Consumer Electronics</li><br><li>Asian Pacific Consumer, Cyclical</li><br><li>Asian Pacific Leisure Goods &amp; Services</li><br><li>Asian Pacific Ex. JP Cyclical Goods &amp; Services</li><br><li>Asian Pacific Ex. JP Consumer Electronics</li><br><li>Asian Pacific Ex. JP Consumer, Cyclical</li><br><li>Asian Pacific Ex. JP Leisure Goods &amp; Services</li><br><li>Asia Emerging Cyclical Goods &amp; Services</li><br><li>Asia Emerging Consumer Electronics</li><br><li>Asia Emerging Consumer, Cyclical</li><br><li>Asia Emerging Leisure Goods &amp; Services</li><br></ul><br><em>Companies</em><br><ul><li>066570.KS LG Electronics</li><br></ul><br><em>Subjects</em><br><ul><li>Change in Recommendation</li><br><li>Company Update</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Sean Kim</author>
<category>066570.KS</category>
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<pubDate>Mon, 6 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[European Leisure - Checking in "M&B, Ladbrokes, European hotel pipeline"]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50800|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Europe Including UK</li><br><li>Global</li><br></ul><br><em>Sectors</em><br><ul><li>European Consumer, Cyclical</li><br><li>European Leisure Goods &amp; Services</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>European Cyclical Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Jonathan Leinster</author>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50800|native|public|20081006000000</guid>
<pubDate>Mon, 6 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[Starwood Hotels "Lowering Timeshare Estimates 50%; RevPAR -4% and no share ..."]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65231|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Americas</li><br><li>United States</li><br><li>North America</li><br></ul><br><em>Sectors</em><br><ul><li>Global Lodging</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Americas Lodging</li><br><li>US Lodging</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>US Consumer, Cyclical</li><br><li>US Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br><li>US Cyclical Goods &amp; Services</li><br><li>North American Cyclical Goods &amp; Services</li><br><li>North American Consumer, Cyclical</li><br><li>North American Leisure Goods &amp; Services</li><br><li>North American Lodging</li><br></ul><br><em>Companies</em><br><ul><li>MAR.N Marriott Intl.</li><br><li>HOT.N Starwood Hotels</li><br></ul><br><em>Subjects</em><br><ul><li>Company Update</li><br><li>Morning Note</li><br></ul>]]></description>
<author>William B. Truelove</author>
<category>MAR.N</category>
<category>HOT.N</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65231|native|public|20081006000000</guid>
<pubDate>Mon, 6 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[Wyndham Worldwide "Lowering EPS Estimates 10-21% on Lower Timeshare Sales; ..."]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65232|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Americas</li><br><li>United States</li><br><li>North America</li><br></ul><br><em>Sectors</em><br><ul><li>Global Lodging</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Americas Lodging</li><br><li>US Lodging</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>US Consumer, Cyclical</li><br><li>US Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br><li>US Cyclical Goods &amp; Services</li><br><li>North American Cyclical Goods &amp; Services</li><br><li>North American Consumer, Cyclical</li><br><li>North American Leisure Goods &amp; Services</li><br><li>North American Lodging</li><br></ul><br><em>Companies</em><br><ul><li>IHG.L InterContinental</li><br><li>MAR.N Marriott Intl.</li><br><li>HOT.N Starwood Hotels</li><br><li>WYN.N Wyndham Worldwide</li><br></ul><br><em>Subjects</em><br><ul><li>Company Update</li><br><li>Morning Note</li><br></ul>]]></description>
<author>William B. Truelove</author>
<category>IHG.L</category>
<category>MAR.N</category>
<category>HOT.N</category>
<category>WYN.N</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65232|native|public|20081006000000</guid>
<pubDate>Mon, 6 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[First Read: Gaming "September Macau Revenues Decline 3% YOY" 03-Oct-2008 Farley]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65226|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Americas</li><br><li>United States</li><br><li>North America</li><br></ul><br><em>Sectors</em><br><ul><li>Global Casinos</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>US Casinos</li><br><li>Americas Casinos</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>US Consumer, Cyclical</li><br><li>US Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br><li>US Cyclical Goods &amp; Services</li><br><li>North American Cyclical Goods &amp; Services</li><br><li>North American Casinos</li><br><li>North American Consumer, Cyclical</li><br><li>North American Leisure Goods &amp; Services</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Robin M. Farley</author>
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<pubDate>Fri, 3 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[Small ReCap 03-Oct-2008]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40931|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Emerging Markets</li><br><li>Asia</li><br><li>China</li><br><li>Hong Kong</li><br><li>India</li><br><li>Korea</li><br><li>Malaysia</li><br><li>Thailand</li><br><li>Asia Pacific</li><br><li>Asia Pacific Ex. JP</li><br><li>Asia Emerging</li><br></ul><br><em>Sectors</em><br><ul><li>Global Lodging</li><br><li>Global Marine Transport</li><br><li>Global Agriculture</li><br><li>Global Chemicals, Commodity</li><br><li>Global Shipbuilding</li><br><li>Global Basic Materials</li><br><li>Global Chemicals</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Industrial</li><br><li>Global Consumer, Non-Cyclical</li><br><li>Global Technology</li><br><li>Global Industrial Transportation</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Global Food &amp; Beverage</li><br><li>Global Industrial Goods &amp; Services</li><br><li>Global Food</li><br><li>Global Technology Hardware &amp; Equipment</li><br><li>Asian Lodging</li><br><li>Asian Marine Transport</li><br><li>Asian Agriculture</li><br><li>Chinese Marine Transport</li><br><li>Hong Kong Marine Transport</li><br><li>Malaysian Agriculture</li><br><li>Thai Lodging</li><br><li>Indian Chemicals, Commodity</li><br><li>Korean Shipbuilding</li><br><li>Asian Chemicals, Commodity</li><br><li>Asian Shipbuilding</li><br><li>Asian Basic Materials</li><br><li>Asian Chemicals</li><br><li>Asian Consumer, Cyclical</li><br><li>Asian Leisure Goods &amp; Services</li><br><li>Asian Industrial</li><br><li>Asian Consumer, Non-Cyclical</li><br><li>Asian Technology</li><br><li>Asian Industrial Transportation</li><br><li>Chinese Industrial</li><br><li>Chinese Industrial Transportation</li><br><li>Hong Kong Industrial</li><br><li>Hong Kong Technology</li><br><li>Hong Kong Industrial Transportation</li><br><li>Indian Basic Materials</li><br><li>Indian Chemicals</li><br><li>Korean Industrial</li><br><li>Korean Industrial Transportation</li><br><li>Malaysian Consumer, Non-Cyclical</li><br><li>Thai Consumer, Cyclical</li><br><li>Thai Leisure Goods &amp; Services</li><br><li>Asian Cyclical Goods &amp; Services</li><br><li>Asian Food &amp; Beverage</li><br><li>Asian Industrial Goods &amp; Services</li><br><li>Chinese Industrial Goods &amp; Services</li><br><li>Hong Kong Industrial Goods &amp; Services</li><br><li>Korean Industrial Goods &amp; Services</li><br><li>Malaysian Food &amp; Beverage</li><br><li>Thai Cyclical Goods &amp; Services</li><br><li>Hong Kong Technology Hardware &amp; Equipment</li><br><li>Malaysian Food</li><br><li>Asian Food</li><br><li>Asian Technology Hardware &amp; Equipment</li><br><li>Asian Pacific Basic Materials</li><br><li>Asian Pacific Cyclical Goods &amp; Services</li><br><li>Asian Pacific Chemicals, Commodity</li><br><li>Asian Pacific Chemicals</li><br><li>Asian Pacific Consumer, Cyclical</li><br><li>Asian Pacific Leisure Goods &amp; Services</li><br><li>Asian Pacific Food</li><br><li>Asian Pacific Food &amp; Beverage</li><br><li>Asian Pacific Industrial</li><br><li>Asian Pacific Industrial Goods &amp; Services</li><br><li>Asian Pacific Lodging</li><br><li>Asian Pacific Marine Transport</li><br><li>Asian Pacific Consumer, Non-Cyclical</li><br><li>Asian Pacific Agriculture</li><br><li>Asian Pacific Shipbuilding</li><br><li>Asian Pacific Technology</li><br><li>Asian Pacific Technology Hardware &amp; Equipment</li><br><li>Asian Pacific Industrial Transportation</li><br><li>Asian Pacific Ex. JP Basic Materials</li><br><li>Asian Pacific Ex. JP Cyclical Goods &amp; Services</li><br><li>Asian Pacific Ex. JP Chemicals, Commodity</li><br><li>Asian Pacific Ex. JP Chemicals</li><br><li>Asian Pacific Ex. JP Consumer, Cyclical</li><br><li>Asian Pacific Ex. JP Leisure Goods &amp; Services</li><br><li>Asian Pacific Ex. JP Food</li><br><li>Asian Pacific Ex. JP Food &amp; Beverage</li><br><li>Asian Pacific Ex. JP Industrial</li><br><li>Asian Pacific Ex. JP Industrial Goods &amp; Services</li><br><li>Asian Pacific Ex. JP Lodging</li><br><li>Asian Pacific Ex. JP Marine Transport</li><br><li>Asian Pacific Ex. JP Consumer, Non-Cyclical</li><br><li>Asian Pacific Ex. JP Agriculture</li><br><li>Asian Pacific Ex. JP Shipbuilding</li><br><li>Asian Pacific Ex. JP Technology</li><br><li>Asian Pacific Ex. JP Technology Hardware &amp; Equipment</li><br><li>Asian Pacific Ex. JP Industrial Transportation</li><br><li>Asia Emerging Basic Materials</li><br><li>Asia Emerging Cyclical Goods &amp; Services</li><br><li>Asia Emerging Chemicals, Commodity</li><br><li>Asia Emerging Chemicals</li><br><li>Asia Emerging Consumer, Cyclical</li><br><li>Asia Emerging Leisure Goods &amp; Services</li><br><li>Asia Emerging Food</li><br><li>Asia Emerging Food &amp; Beverage</li><br><li>Asia Emerging Industrial</li><br><li>Asia Emerging Industrial Goods &amp; Services</li><br><li>Asia Emerging Lodging</li><br><li>Asia Emerging Consumer, Non-Cyclical</li><br><li>Asia Emerging Agriculture</li><br><li>Asia Emerging Shipbuilding</li><br><li>Asia Emerging Industrial Transportation</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Ashraf Khan</author>
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<pubDate>Fri, 3 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[Marriott Intl. "Are the timeshare synergies worth it?" (Buy) Truelove]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65167|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Americas</li><br><li>United States</li><br><li>North America</li><br></ul><br><em>Sectors</em><br><ul><li>Global Lodging</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Americas Lodging</li><br><li>US Lodging</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>US Consumer, Cyclical</li><br><li>US Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br><li>US Cyclical Goods &amp; Services</li><br><li>North American Cyclical Goods &amp; Services</li><br><li>North American Consumer, Cyclical</li><br><li>North American Leisure Goods &amp; Services</li><br><li>North American Lodging</li><br></ul><br><em>Companies</em><br><ul><li>MAR.N Marriott Intl.</li><br><li>CHH.N Choice Hotels</li><br><li>HOT.N Starwood Hotels</li><br><li>WYN.N Wyndham Worldwide</li><br></ul><br><em>Subjects</em><br><ul><li>Company Update</li><br><li>Morning Note</li><br></ul>]]></description>
<author>William B. Truelove</author>
<category>MAR.N</category>
<category>CHH.N</category>
<category>HOT.N</category>
<category>WYN.N</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65167|native|public|20081002000000</guid>
<pubDate>Thu, 2 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[Marriott Intl. "3Q08 Earnings Report Card; MAR Exceeds" (Buy) Truelove]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65149|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Americas</li><br><li>United States</li><br><li>North America</li><br></ul><br><em>Sectors</em><br><ul><li>Global Lodging</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Americas Lodging</li><br><li>US Lodging</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>US Consumer, Cyclical</li><br><li>US Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br><li>US Cyclical Goods &amp; Services</li><br><li>North American Cyclical Goods &amp; Services</li><br><li>North American Consumer, Cyclical</li><br><li>North American Leisure Goods &amp; Services</li><br><li>North American Lodging</li><br></ul><br><em>Companies</em><br><ul><li>MAR.N Marriott Intl.</li><br></ul><br><em>Subjects</em><br><ul><li>Company Update</li><br><li>Operating Results</li><br><li>Morning Note</li><br></ul>]]></description>
<author>William B. Truelove</author>
<category>MAR.N</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65149|native|public|20081002000000</guid>
<pubDate>Thu, 2 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[US Weekly RevPAR Update "RevPAR for Upper Upscale -2.2% and Urban +0.4% "]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65110|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Americas</li><br></ul><br><em>Sectors</em><br><ul><li>Global Lodging</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Americas Lodging</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br></ul><br><em>Companies</em><br><ul><li>MAR.N Marriott Intl.</li><br><li>GET.N Gaylord</li><br><li>CHH.N Choice Hotels</li><br><li>FCH.N FelCor Lodging</li><br><li>HST.N Host Hotels</li><br><li>HOT.N Starwood Hotels</li><br><li>HPT.N Hospitality Trust</li><br><li>LHO.N LaSalle Hotel</li><br><li>HT.N Hersha Hospitality</li><br><li>SHO.N Sunstone Hotel</li><br><li>BEE.N Strategic Hotel</li><br><li>OEH.N Orient-Express</li><br><li>WYN.N Wyndham Worldwide</li><br><li>DRH.N DiamondRock</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>William B. Truelove</author>
<category>MAR.N</category>
<category>GET.N</category>
<category>CHH.N</category>
<category>FCH.N</category>
<category>HST.N</category>
<category>HOT.N</category>
<category>HPT.N</category>
<category>LHO.N</category>
<category>HT.N</category>
<category>SHO.N</category>
<category>BEE.N</category>
<category>OEH.N</category>
<category>WYN.N</category>
<category>DRH.N</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65110|native|public|20081001000000</guid>
<pubDate>Wed, 1 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[Nintendo "New Nintendo DS: limited additional functions; unlikely to create ..."]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uew13313|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Asia Pacific</li><br><li>Japan</li><br></ul><br><em>Sectors</em><br><ul><li>Global Toys</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Japanese Toys</li><br><li>Japanese Consumer, Cyclical</li><br><li>Japanese Leisure Goods &amp; Services</li><br><li>Japanese Cyclical Goods &amp; Services</li><br></ul><br><em>Companies</em><br><ul><li>7974.OS Nintendo</li><br></ul><br><em>Subjects</em><br><ul><li>Company Update</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Shunsuke Tsuchiya</author>
<category>7974.OS</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uew13313|native|public|20081002000000</guid>
<pubDate>Thu, 2 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[Oriental Land "Park attendance up 7.2% yoy in FY08 H1" (Neutral) Okino]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uew13293|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Asia Pacific</li><br><li>Japan</li><br></ul><br><em>Sectors</em><br><ul><li>Global Recreational Products &amp; Services</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Japanese Recreational Products &amp; Services</li><br><li>Japanese Consumer, Cyclical</li><br><li>Japanese Leisure Goods &amp; Services</li><br><li>Japanese Cyclical Goods &amp; Services</li><br></ul><br><em>Companies</em><br><ul><li>4661.T Oriental Land</li><br></ul><br><em>Subjects</em><br><ul><li>Company Update</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Toshihiko Okino</author>
<category>4661.T</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uew13293|native|public|20081001000000</guid>
<pubDate>Wed, 1 Oct 2008</pubDate>
</item>
<item>
<title><![CDATA[UK pubs "Drowning in sorrow" 01-Oct-2008 French]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50584|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Europe Including UK</li><br><li>United Kingdom</li><br><li>Global</li><br><li>UBSW EMEA</li><br><li>Americas</li><br></ul><br><em>Sectors</em><br><ul><li>European Restaurants</li><br><li>Global Restaurants</li><br><li>European Consumer, Cyclical</li><br><li>European Leisure Goods &amp; Services</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>European Cyclical Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Americas Restaurants</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br></ul><br><em>Companies</em><br><ul><li>GNK.L Greene King</li><br><li>MARS.L Marston's</li><br><li>JDW.L Wetherspoon (JD)</li><br><li>ETI.L Enterprise Inns</li><br><li>PUB.L Punch Taverns</li><br><li>MAB.L Mitchells &amp; Butlers</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Simon French</author>
<category>GNK.L</category>
<category>MARS.L</category>
<category>JDW.L</category>
<category>ETI.L</category>
<category>PUB.L</category>
<category>MAB.L</category>
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<pubDate>Wed, 1 Oct 2008</pubDate>
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<item>
<title><![CDATA[Las Vegas Sands Inc "LVS: Not Out Of The Woods Yet" (Neutral) Farley]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65107|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Americas</li><br><li>United States</li><br><li>North America</li><br></ul><br><em>Sectors</em><br><ul><li>Global Casinos</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>US Casinos</li><br><li>Americas Casinos</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>US Consumer, Cyclical</li><br><li>US Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br><li>US Cyclical Goods &amp; Services</li><br><li>North American Cyclical Goods &amp; Services</li><br><li>North American Casinos</li><br><li>North American Consumer, Cyclical</li><br><li>North American Leisure Goods &amp; Services</li><br></ul><br><em>Companies</em><br><ul><li>WYNN.O Wynn Resorts</li><br><li>LVS.N Las Vegas Sands Inc</li><br></ul><br><em>Subjects</em><br><ul><li>Company Update</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Robin M. Farley</author>
<category>WYNN.O</category>
<category>LVS.N</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65107|native|public|20081001000000</guid>
<pubDate>Wed, 1 Oct 2008</pubDate>
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<item>
<title><![CDATA[UK Small-Midcaps Daily 01-Oct-2008]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50608|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Europe Including UK</li><br><li>United Kingdom</li><br><li>Global</li><br><li>UBSW EMEA</li><br><li>Americas</li><br></ul><br><em>Sectors</em><br><ul><li>European Restaurants</li><br><li>Global Restaurants</li><br><li>European Consumer, Cyclical</li><br><li>European Leisure Goods &amp; Services</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>European Cyclical Goods &amp; Services</li><br><li>European Media</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Global Media</li><br><li>Americas Restaurants</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Sakshi Jain</author>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50608|native|public|20081001000000</guid>
<pubDate>Wed, 1 Oct 2008</pubDate>
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<item>
<title><![CDATA[European Small-Midcaps Daily 01-Oct-2008]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50607|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Europe Including UK</li><br><li>Global</li><br><li>Americas</li><br></ul><br><em>Sectors</em><br><ul><li>European Restaurants</li><br><li>Global Restaurants</li><br><li>European Consumer, Cyclical</li><br><li>European Leisure Goods &amp; Services</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>European Cyclical Goods &amp; Services</li><br><li>European Media</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Global Media</li><br><li>Americas Restaurants</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Sakshi Jain</author>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50607|native|public|20081001000000</guid>
<pubDate>Wed, 1 Oct 2008</pubDate>
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<item>
<title><![CDATA[Thai Hospitality "Quick recovery, but outlook less favourable" 01-Oct-2008]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40893|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Emerging Markets</li><br><li>Asia</li><br><li>Thailand</li><br><li>Asia Pacific</li><br><li>Asia Pacific Ex. JP</li><br><li>Asia Emerging</li><br></ul><br><em>Sectors</em><br><ul><li>Global Lodging</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Asian Lodging</li><br><li>Thai Lodging</li><br><li>Asian Consumer, Cyclical</li><br><li>Asian Leisure Goods &amp; Services</li><br><li>Thai Consumer, Cyclical</li><br><li>Thai Leisure Goods &amp; Services</li><br><li>Asian Cyclical Goods &amp; Services</li><br><li>Thai Cyclical Goods &amp; Services</li><br><li>Asian Pacific Cyclical Goods &amp; Services</li><br><li>Asian Pacific Consumer, Cyclical</li><br><li>Asian Pacific Leisure Goods &amp; Services</li><br><li>Asian Pacific Lodging</li><br><li>Asian Pacific Ex. JP Cyclical Goods &amp; Services</li><br><li>Asian Pacific Ex. JP Consumer, Cyclical</li><br><li>Asian Pacific Ex. JP Leisure Goods &amp; Services</li><br><li>Asian Pacific Ex. JP Lodging</li><br><li>Asia Emerging Cyclical Goods &amp; Services</li><br><li>Asia Emerging Consumer, Cyclical</li><br><li>Asia Emerging Leisure Goods &amp; Services</li><br><li>Asia Emerging Lodging</li><br></ul><br><em>Companies</em><br><ul><li>MINT.BK Minor International</li><br><li>ERAW.BK Erawan</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Piyanan Panichkul</author>
<category>MINT.BK</category>
<category>ERAW.BK</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uev40893|native|public|20081001000000</guid>
<pubDate>Wed, 1 Oct 2008</pubDate>
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<item>
<title><![CDATA[3Q08 Earnings Preview  "Outlook for 2009 More Important" 01-Oct-2008 Truelove]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65076|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Americas</li><br></ul><br><em>Sectors</em><br><ul><li>Global Lodging</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Americas Lodging</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br></ul><br><em>Companies</em><br><ul><li>MAR.N Marriott Intl.</li><br><li>GET.N Gaylord</li><br><li>CAR.N Avis Budget Group</li><br><li>CHH.N Choice Hotels</li><br><li>FCH.N FelCor Lodging</li><br><li>HST.N Host Hotels</li><br><li>HOT.N Starwood Hotels</li><br><li>HPT.N Hospitality Trust</li><br><li>LHO.N LaSalle Hotel</li><br><li>HT.N Hersha Hospitality</li><br><li>SHO.N Sunstone Hotel</li><br><li>BEE.N Strategic Hotel</li><br><li>OEH.N Orient-Express</li><br><li>HTZ.N Hertz Global</li><br><li>WYN.N Wyndham Worldwide</li><br><li>DRH.N DiamondRock</li><br><li>AHT.N Ashford Hospitality</li><br><li>MHGC.O Morgans Hotel Group</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>William B. Truelove</author>
<category>MAR.N</category>
<category>GET.N</category>
<category>CAR.N</category>
<category>CHH.N</category>
<category>FCH.N</category>
<category>HST.N</category>
<category>HOT.N</category>
<category>HPT.N</category>
<category>LHO.N</category>
<category>HT.N</category>
<category>SHO.N</category>
<category>BEE.N</category>
<category>OEH.N</category>
<category>HTZ.N</category>
<category>WYN.N</category>
<category>DRH.N</category>
<category>AHT.N</category>
<category>MHGC.O</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65076|native|public|20081001000000</guid>
<pubDate>Wed, 1 Oct 2008</pubDate>
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<title><![CDATA[Ashford Hospitality "Upgrading to Neutral on Valuation" (Neutral) Truelove]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65072|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Global</li><br><li>Americas</li><br><li>United States</li><br><li>North America</li><br></ul><br><em>Sectors</em><br><ul><li>Global Lodging</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Americas Lodging</li><br><li>US Lodging</li><br><li>Americas Consumer, Cyclical</li><br><li>Americas Leisure Goods &amp; Services</li><br><li>US Consumer, Cyclical</li><br><li>US Leisure Goods &amp; Services</li><br><li>Americas Cyclical Goods &amp; Services</li><br><li>US Cyclical Goods &amp; Services</li><br><li>North American Cyclical Goods &amp; Services</li><br><li>North American Consumer, Cyclical</li><br><li>North American Leisure Goods &amp; Services</li><br><li>North American Lodging</li><br></ul><br><em>Companies</em><br><ul><li>AHT.N Ashford Hospitality</li><br></ul><br><em>Subjects</em><br><ul><li>Change in Recommendation</li><br><li>Company Update</li><br><li>Morning Note</li><br></ul>]]></description>
<author>William B. Truelove</author>
<category>AHT.N</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uez65072|native|public|20080930000000</guid>
<pubDate>Tue, 30 Sep 2008</pubDate>
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<item>
<title><![CDATA[Spanish Hotels "No relief on fundamentals. NH Hoteles moved to Sell "]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50526|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Spain</li><br><li>Europe Including UK</li><br><li>Europe Ex. UK</li><br><li>Global</li><br><li>UBSW EMEA</li><br></ul><br><em>Sectors</em><br><ul><li>European Consumer, Cyclical</li><br><li>European Leisure Goods &amp; Services</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>European Cyclical Goods &amp; Services</li><br><li>Global Cyclical Goods &amp; Services</li><br></ul><br><em>Companies</em><br><ul><li>NHH.MC NH Hoteles</li><br><li>SOL.MC Sol Meliá</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Market Strategy / Comment</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Bosco Ojeda</author>
<category>NHH.MC</category>
<category>SOL.MC</category>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50526|native|public|20080930000000</guid>
<pubDate>Tue, 30 Sep 2008</pubDate>
</item>
<item>
<title><![CDATA[UK Small-Midcaps Daily 30-Sep-2008]]></title>
<link>http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50566|native|public</link>
<description><![CDATA[This document is related to the following:<br><em>Regions</em><br><ul><li>Europe Including UK</li><br><li>United Kingdom</li><br><li>Global</li><br><li>UBSW EMEA</li><br></ul><br><em>Sectors</em><br><ul><li>European Investment Services</li><br><li>British Investment Services</li><br><li>Global Investment Services</li><br><li>European Consumer, Cyclical</li><br><li>European Leisure Goods &amp; Services</li><br><li>European Financial</li><br><li>British Financial</li><br><li>Global Consumer, Cyclical</li><br><li>Global Leisure Goods &amp; Services</li><br><li>Global Financial</li><br><li>European Cyclical Goods &amp; Services</li><br><li>European Financial Services</li><br><li>British Financial Services</li><br><li>Global Cyclical Goods &amp; Services</li><br><li>Global Financial Services</li><br></ul><br><em>Subjects</em><br><ul><li>Industry Overview</li><br><li>Morning Note</li><br></ul>]]></description>
<author>Sakshi Jain</author>
<guid isPermaLink="false">http://research.ibb.ubs.com:80/servlet/SrchDoc?rss=uer50566|native|public|20080930000000</guid>
<pubDate>Tue, 30 Sep 2008</pubDate>
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