Brand
Q3 RevPAR (Global)
Q3 RevPAR (U.S.)
Outlook
Worth noting
Hilton
+5.8%
+7.0%
Raised to 4% to 4.5% for the year
Upfront cash to sign owners jumped to $78M from $31M
Hyatt
+7.2%
+8.2%
5% to 5.5% for the year
All-inclusive RevPAR fell 2.5% on softer Mexico demand
IHG
+5.3%
+6.9%
On track for the year
U.S. occupancy hit 73.9%, highest since 2017
Marriott
+6.5%
+7.4%*
Raised to 4.5% to 5% for the year
Development pipeline hit a record 634,000+ rooms
Wyndham
+2%
+6%
Raised for the year
Expects Q4 U.S. to hold Q3’s pace
*U.S. & Canada
Here’s what jumps out. The brands grew everywhere, but the U.S. led, and it grew on both rate and occupancy. Hawaiʻi’s September RevPAR rose about 3% with occupancy flat, so almost all of it was rate, and even our rate growth trailed the continent. To be fair, Hilton credits the World Cup and holiday timing for part of the lift. Even so, the national demand picture says Hawaiʻi’s softness is a Hawaiʻi problem, not an industry one.
Meanwhile, Hilton paid 2.5x more upfront to sign hotels than a year ago, and Marriott posted a record pipeline in the same quarter it confirmed corporate job cuts.
Want to dive deeper? Hilton Q3 | Hyatt Q3 | IHG Q3 | Marriott Q3 | Wyndham Q3
