LODGING Staff

💰 Hilton Worldwide Holdings Inc. reported $344 million net income and $904 million adjusted EBITDA for Q3 2024. Diluted EPS stood at $1.38, adjusted EPS at $1.92. Q3 saw 1.4% system-wide comparable RevPAR increase and the addition of 36,600 rooms, achieving a net unit growth of 7.8%. Their development pipeline reached 492,400 rooms, marking an 8% growth. Hilton repurchased 3.3 million shares and projects full-year 2024 system-wide RevPAR growth of 2.0% to 2.5%, with net income between $1,405 million and $1,429 million. Full-year capital return is estimated at $3.0 billion.

📈 Marriott International, Inc. announced Connect Responsibly with Marriott Bonvoy Events to enhance sustainability in meetings at Marriott Bonvoy hotels globally by end of October. Program provides Meeting Impact Reports for environmental assessment and carbon credit purchase options through South Pole collaboration. Reports, available in 11 languages, detail event carbon and water footprints. Marriott focuses on industry-informed sustainability, responding to customer demand for eco-conscious meeting solutions.

📅 IHG's Q3 2024 trading update showed global RevPAR up 1.5 percent, Americas up 1.7 percent, EMEAA up 4.9 percent, and Greater China down 10.3 percent. Year to date (YTD) global RevPAR rose 2.4 percent. A 5.9 percent YOY gross system size growth with 17,500 rooms opened in Q3, and net system size up 4.1 percent YOY. Global system reached 968,000 rooms across 6,505 hotels. Q3 saw 19,200 new rooms signed, a 14 percent YOY increase. IHG's share buyback program for 2024 reached $614 million of the $800 million target, reducing shares by 3.7 percent, and the company is on track to return over $1 billion to shareholders. The Venetian Resort Las Vegas will no longer be affiliated with IHG from January 1, 2025, impacting less than 0.1 percent of revenue.