Hotel earnings tips

Marriott International forecast that its fourth quarter would surpass 2019 in revenue per available room, a a closely watched number, underscoring the resilience of travel spending despite economic worries.

Nick Jones said on Wednesday that he would step down from being CEO of Membership Collective Group nearly three decades since he founded the original Soho House that eventually led to the creation of the public company and owner of the Soho House chain.

Choice Hotels‘ recent acquisition of Radisson’s Americas business looks like a post-pandemic statement of intent. The $675 million deal will help shift the company’s portfolio mix upmarket.

Indian Hotels Company (IHCL) plans to reach a portfolio of 300 hotels by 2025, it said on Tuesday when reporting its earnings.

MGM Resorts International reported earnings for the fourth quarter of 2022 on Wednesday. Here are key points about the operator of 32 hotels and casinos in the U.S. and Macau.

In full-year 2022, the Loews Hotels chain of 25 luxury properties generated $345 million in adjusted earnings before interest, taxes, depreciation, and amortization — a measure of profit — on revenue of $721 million, its parent company reported on Monday.

For InterContinental Hotels Group (IHG), soaring hotel rates owing to a post-pandemic surge in pent-up demand for travel have been a boon after the pandemic bludgeoned the travel sector. But IHG Hotels & Resorts said its pricing power would last beyond the present moment thanks partly to its investments in digital technology. The company also anticipated future growth as China, the world’s second-largest economy, reopens.

Marriott International ended 2022 with a robust performance thanks to the post-pandemic resurgence in travel, the company said on Tuesday. It enjoyed record fourth-quarter average room rates, profit at its managed hotels, hotel development plans, and sign-ups for its co-branded credit cards.

Marriott Vacations Worldwide Corp‘s new CEO John Geller said on Thursday that the company’s fourth-quarter earnings underscored continued strength in leisure demand for its timeshare properties, package tours, and other offerings for travelers, despite talk of economic uncertainty.

Executives at Accor, Europe’s largest hotel operator with about 5,445 hotels worldwide, envy how U.S.-based hotel operators have consolidated North America. But they argue they have a better sense of the ground game for hospitality in the rest of the world.

Membership Collective Group is best known for its Soho House upscale member’s clubs and hotels and for being unprofitable for decades. The London-based company wants to change both of those things, it said during a Wednesday earnings call.

Nigeria’s Transcorp Hotels, one of Nigeria’s biggest hotel players, reported that it had returned to profit in 2022 after a rough pandemic.

Good morning from Skift. It’s Monday, April 24. Here’s what you need to know about the business of travel today.

Premier Inn owner Whitbread Plc on Tuesday reported its annual profit above pre-pandemic levels, beating expectations, buoyed by strong demand for accommodation and leisure travel in the wake of holiday periods devoid of Covid-19 restrictions.

Accor, the Paris-based hotel group, expects a recovery in occupancy rates to pre-pandemic levels will increasingly fuel its revenue growth over the next year. But it will take time to play out.

Premier Inn, the UK’s largest hotel chain, wants to expand its budget brand in the larger German market — partly through mergers and acquisitions.

Selina was one of about a dozen travel companies that went public last year by merging with blank check companies called special purpose acquisition companies (SPACs). Most have since been in the doldrums.

Soho House & Co. wants its social clubs to stay popular — but not too popular.

Premier Inn owner Whitbread said on Thursday its first-quarter sales came in ahead of last year’s figures, supported by strong demand for travel and leisure and robust performances of its UK hotels.

Accor held a day of presentations on Tuesday in Paris for investment analysts, offering an array of insights into strategy at the $8.7 billion hotel group.

Scandic Hotels Group began the hotel earnings season with a financial update on Friday, voicing optimism about travel demand despite recent inflationary pressures.