Our 2Q24 Hospitality Earnings Summary is now available! We’re thrilled to share positive insights into the hotel industry. A glimpse:

• The average and median 2Q24 U.S. RevPAR change for the public hotel companies was 1.6% and 1.9%. Group oriented companies outperformed and leisure reliant companies reported negative RevPAR change
• Full year RevPAR growth guidance revised lower to 1.0-2.0%; down from 2.3%-4.3% as reported in 1Q24
• 2Q24 business transient revenue grew 4% to 14% for the major operations. Higher end chain scales are expected to show strength amongst business transient demand
• Group Revenue for 2H 2024 is pacing 5% to 17% ahead of STLY and 2025 is 3% to 20% ahead of STLY with most operators up high single digits
• The leisure demand decline is expected to continue through the rest of 2024 due to macro factors – increasing unemployment and pressure consumer spending
• 2024 EBITDA margins will decline due to labor expense. YTD the average REIT EBITA margin decline was 80 bps

Download the full summary to stay up-to-date: hotelAVE 2Q24 Hospitality Earnings Summary