Amadeus reports strong third quarter results
Amadeus reports strong third quarter results with profitable double-digit growth for the first nine months of 2024
In Q3 2024, hotel companies reported record pipeline growth, led by hotel conversions, while RevPAR increased due to strong group travel and luxury hotel demand.
Key takeaways
- Marriott International, Choice Hotels, and Wyndham Hotels & Resorts all reached record pipeline levels in Q3, with strong signings. IHG Hotels & Resorts and Hyatt also expanded their global pipelines.;
- Hotel conversions significantly contributed to room growth, as franchisees viewed them as a faster alternative to new construction, according to Choice Hotels CEO Patrick Pacious;
- Group travel also boosted Q3 RevPAR for Marriott, Hyatt, and IHG. Marriott CEO Anthony Capuano noted the ongoing strength of group travel as “a really encouraging sign.”
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