Q3 Results are out!
The hospitality industry’s performance varies with each quarter. While some do phenomenally well, some don’t match with the brand’s expectations. Below are excerpts from how brands have performed globally in the third quarter of 2019...
ACCOR CHAIRMAN & CEO
Sébastien Bazin
Accor’s third quarter performance was solid, validating the quality of its asset-light model in a mixed international environment. The group once again generated solid revenue growth with steady supply growth and a record-setting pipeline. At the same time, Accor continued to execute its strategy, making progress on the sale of its remaining real estate activities, and on the launch of ALL, the group’s new distribution platform and loyalty programme.
WYNDHAM HOTELS & RESORTS
PRESIDENT & CEO
Geoffrey A. Ballotti
Our team’s sharp execution against our strategic and operating plans allowed us to deliver solid results in Q3, despite a softening RevPAR environment, highlighted by continued expansion of our system size and significant growth in adjusted EBITDA. We increased our share repurchase authorisation to reflect our strong free cash flow and our sustained focus on returning cash to shareholders.
MARRIOTT INERNATIONAL PRESIDENT & CEO
Arne M. Sorenson
In Q3, our worldwide comparable systemwide constant dollar RevPAR increased 1.5 percent, consistent with our guidance, while our global RevPAR index rose 210 basis points. Our sales organization is hitting its stride. For comparable hotels in North America, group revenue booked in the third quarter for all future periods increased 6 percent and, today, group revenue pace for 2020 is up at a mid-single digit growth rate.
HILTON PRESIDENT & CEO
Christopher J. Nassetta
Despite the overall slowing macro environment, we have delivered strong bottom-line results for Q3. Adjusted EBITDA was towards the high end of guidance and diluted EPS, adjusted for special items, exceeded our expectations, driven by strong net unit growth. Additionally, we continue to achieve market share gains across all brands and regions year to date.
INTER CONTINENTAL HOTELS GROUP
CEO
Keith Barr
Our strategic focus on driving net rooms growth enabled us to deliver a 4.7% increase in net system size despite a strong comparable. This will accelerate in the coming quarter and we are on track to deliver industry leading net system growth over the medium term. Third quarter Group RevPAR was down by 0.8 per cent, impacted by tougher trading conditions in the US and China, and ongoing unrest in the Hong Kong SAR.
HYATT HOTELS CORPORATION PRESIDENT & CEO
Mark S. Hoplamazian
Our management and franchise fee growth of nearly 11% this quarter is driven by roughly 13% year-over-year net rooms growth. Further, we have successfully increased productivity and operating efficiency for 23 straight quarters which has allowed us to maintain strong hotel operating margins even in the face of flat RevPAR growth this quarter.