Top trends driving hotel companies' Q3 results
In the third quarter, companies saw RevPAR growth driven by group business and strong conversion demand
In the third quarter of 2024, hotel companies reported record pipeline growth, led by hotel conversions, while RevPAR increased due to strong demand for group travel and luxury hotels.
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 contributed significantly 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 called the continued strength of group travel "a really encouraging sign.
Get the full story at Hotel Dive