Our 3Q24 Hospitality Earnings Summary is now available! We’re thrilled to share positive insights into the hotel industry. A glimpse:

• The average and median 3Q24 U.S. RevPAR changed for the public companies were 0.8% and 1.1% 2/3 of the public companies reported Y/Y increases
• Full year RevPAR growth guidance tightened to 0.6-1.2%; down from 1.0-2.0% as reported in 2Q24
• 3Q24 business transient revenue grew 2% to 16% for the major operators. This growth is expected to continue as BT demand parallels ongoing return-to-office trends
• Although 3Q24 group revenue was up double digits, 4Q24 group RevPAR growth is expected to be muted due to the U.S. Election
• Group revenue growth for 2025 is pacing 2% to 13%, with strong domestic citywide pace cited in cities such as San Francisco and New Orleans
• 2024 EBITDA margins still on track to decline due to tepid revenue growth and above inflationary increases in labor costs, real estate taxes and insurance. Labor strikes and hurricanes were cited by REITs with exposure to union markets and hotels in the Gulf Coast of Florida

Download the full summary to stay up-to-date: hotelAVE 3Q24 Hospitality Earnings Summary