Hotel companies raise 2023 revenue expectations

A strong first quarter to start the year left hotel companies broadly optimistic as executives made widespread increases to RevPAR projections

With the better-than-expected first-quarter results and robust global booking trends, Marriott is raising its full-year guidance, as macroeconomic uncertainty is not impacting its short‐term demand, and trends across all customer segments remain strong.

Hyatt is increasing its full-year 2023 systemwide RevPAR growth expectations to a range of 12-16% compared to 2022 on a constant currency basis, as the company continues to expect larger growth rates over the first half of the year in the mid-to-high 20% range.

Based on the better-than-expected first-quarter results, with accelerated demand across Asia and continued positive momentum, Hilton now expects full-year system-wide top-line growth between 8% and 11% versus 2022, assuming some slowdown in the back half of the year due to macroeconomic uncertainty, particularly in the U.S.

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