Our 1Q24 Hospitality Earnings Summary is now available! We’re thrilled to share positive insights into the hotel industry. A glimpse:

• 1Q24 U.S. RevPAR change was -5.9% to 6.6%; 2/3 of the public companies reported declines
• Full year guidance implies 2024 RevPAR change at 2.3% to 4.3% suggesting much stronger rest of year growth
• US leisure demand showed softness last quarter driven by seasonality, economic uncertainty, strength in international markets, and holiday shifts
• 1Q24 business transient RevPAR grew 1% to 6% for the major operators. Airlines reported double-digit business travel revenue growth. Business travel growth will mitigate leisure demand deceleration
• Group on track for 14% growth in 2024 and 13% in 2025, based on guidance and forward booking trends
• 1Q24 EBITDA margins were mixed vs STLY due to higher operating and fixed costs, including; property taxes, labor costs, and insurance costs. We expect full year 2024 margins to be flat to down 200 bps

Download the full summary to stay up-to-date: hotelAVE 1Q24 Hospitality Earnings Summary