Consumer Cyclical | Travel Lodging

Revpar

1. H: RevPAR is trending positively overall with a system-wide increase of 4.7%, driven by strong group and business transient travel, although Greater China experienced a decline of approximately 3%.
2. WH: Domestic RevPAR in the U.S. has shown mixed trends, with a slight decline year-over-year but recent improvements indicating a potential recovery, while international RevPAR has increased significantly.
3. CHH: RevPAR growth accelerated in the second quarter, exceeding pre-pandemic levels, but a year-over-year decline and lowered guidance suggest a cautious outlook moving forward.
4. IHG: RevPAR is trending positively in the U.S. across most brands, although challenges remain in China due to tougher year-over-year comparisons.
5. MAR: RevPAR is experiencing positive growth in the U.S. and internationally, particularly in Asia Pacific and EMEA, while Greater China faces a decline due to macroeconomic pressures.
6. HTHT: RevPAR is currently declining, with a reported year-over-year drop of around 10% for July and August, but there are expectations for a gradual recovery in the future.

ADR

H: The Average Daily Rate (ADR) is positively trending with a 5% year-over-year increase, reflecting strong demand for higher-priced accommodations and a rise in future tentative bookings.

WH: The ADR is steady at 17% above pre-pandemic levels, although it lags behind real inflation growth, indicating potential for future price adjustments.

CHH: The ADR is trending downward with a 60 basis point decline year-over-year, despite increased occupancy levels, leading to a decrease in overall RevPAR.

IHG: The ADR shows mixed trends, with some brands experiencing positive growth while others face declines, but the overall sentiment remains optimistic for the rest of the year.

MAR: The ADR is positively trending with a 3% increase in the most recent quarter, supported by a 4% rise in the group segment.

HTHT: The ADR is declining, down 2.9% year-over-year, but there are expectations for a gradual recovery as the company implements measures to enhance customer experiences.

Occupancy

H: Occupancy is trending positively, with increased demand from business transient travelers and opportunities for further growth, as rates in convention and business hotels approach pre-pandemic levels.

WH: Occupancy is currently 10% below 2019 levels, showing signs of recovery, particularly in hurricane-impacted areas, though it still has a way to go to reach pre-pandemic occupancy rates.

CHH: Domestic occupancy levels are at 96% of pre-pandemic performance with a slight year-over-year increase, but the decline in average daily rates has negatively impacted RevPAR, indicating a need for more detailed data to assess overall trends.

IHG: The data lacks specific insights into occupancy trends, focusing instead on RevPAR performance and external factors affecting the market.

MAR: Occupancy is positively trending at 73%, reflecting a 150 basis point increase from the previous year, with luxury tier hotels showing the most significant improvement.

HTHT: Occupancy has increased by 0.7 percentage points year-over-year, aligning with the company’s targets and indicating stable travel demand, with expectations for continued growth in occupancy and average daily rates.

Booking nights

H: Booking nights are trending positively, with July showing a 16% increase in total bookings and a 6% rise in bookings from August to December, alongside a 5% increase in average daily rates.

WH: There is no specific information available regarding the trend of booking nights, although there are positive indicators such as increased booking windows and improved leisure travel sentiments.

CHH: The data does not provide specific insights into the trend of booking nights, focusing instead on RevPAR growth and occupancy levels without direct references to booking nights.

IHG: There is no explicit information on the trend of booking nights, despite mentions of increased group bookings and insights into business travel.

MAR: Booking nights show a mixed trend, with a 9% improvement in forward bookings for 2024 but a slight erosion for 2025, although group bookings remain strong.

HTHT: Booking nights are trending positively, particularly through the direct B2B platform, which saw a 31% year-over-year increase in room nights booked.

System Growth

H: The company anticipates a net rooms growth of 5.5% to 6% driven by organic growth and potential transactions, but specific details on the number of hotels in operation are not provided.

WH: The company opened over 17,000 rooms this year, totaling more than 48,000 rooms year-to-date, reflecting a 13% increase from the previous year, with a development pipeline of 248,000 rooms.

CHH: The company reported a 1% year-over-year growth in domestic units, executing 118 hotel openings and increasing its domestic pipeline by 11%, but did not specify the total number of hotels in operation.

IHG: The company achieved a gross system growth of 4.9% and net system growth of 3.2%, with record signings of over 57,000 rooms, although specific current operational hotel numbers were not disclosed.

MAR: The company added approximately 15,500 net rooms, bringing the total to nearly 1.66 million, and reported a global pipeline of over 559,000 rooms, though growth remains below 2019 levels.

HTHT: The company reached 10,000 hotels in operation, with a 31% year-over-year increase in upper-mid hotels and a revised target of over 2,200 hotel openings for the year.

Growth Outlook

H: The growth outlook is cautiously optimistic, with expected RevPAR growth of 3% to 4% and net rooms growth of 5.5% to 6%, despite challenges in Greater China.

WH: The company has a very positive growth outlook, supported by a record high new construction pipeline and strong net room growth expectations of 3% to 5%.

CHH: The growth outlook is positive, driven by confidence in the extended-stay and upscale segments, with a projected adjusted EBITDA growth of approximately 9% for 2024.

IHG: The company has a favorable growth outlook, reporting a gross system growth of 4.9% and a record-breaking signing of over 57,000 rooms, indicating strong future potential.

MAR: The growth outlook indicates a global RevPAR growth of 3% to 4% for the year, tempered by challenges in Greater China, while gross fee growth is projected at 6% to 8%.

HTHT: The growth outlook is positive, with expectations for revenue growth of 2% to 5% in Q3 2024 and a revised target of over 2,200 hotel openings for the year.

kpi-revpar

symbol: H

question: how is “revpar” trending?

RevPAR (Revenue Per Available Room) is trending positively overall, with a system-wide increase of 4.7%. In the United States, RevPAR increased over 2%, driven by strong group and business transient travel, while RevPAR growth in the Americas, excluding the United States, increased approximately 9%. However, in Greater China, RevPAR decreased by approximately 3%, indicating a mixed performance across different regions.

Looking ahead, the company expects full-year system-wide RevPAR growth between 3% and 4% compared to 2023, with group and business transient revenue growth anticipated to outpace leisure transient for the second half of the year.

symbol: WH

question: how is “revpar” trending?

The trend for RevPAR (Revenue Per Available Room) is mixed based on the information provided.

1. Domestic RevPAR: In the United States, RevPAR declined by 80 basis points compared to the prior year. However, there are signs of improvement, as domestic RevPAR is trending up 3% year-over-year in the first three weeks of the current quarter, with expectations for more favorable comparisons in the fourth quarter. The company anticipates that the infrastructure strength observed in the third quarter will continue to provide positive momentum for domestic RevPAR as they exit 2024.
2. Economy RevPAR: Economy RevPAR has shown a positive trend, normalizing and increasing by 260 basis points from the first half of the year. It is noted that economy RevPAR is performing better than overall domestic RevPAR growth, indicating a recovery in this segment.
3. International RevPAR: Internationally, RevPAR increased by 7% year-over-year in constant currency, with significant growth in regions like EMEA (9% growth) and Latin America (52% growth), driven by various factors including inflationary impacts in Argentina.

Overall, while there has been a decline in domestic RevPAR compared to the previous year, there are positive signs of recovery and growth, particularly in the economy segment and internationally. The company is optimistic about the future trends, especially with the expected improvements in the fourth quarter.

symbol: CHH

question: how is “revpar” trending?

The trend for “RevPAR” (Revenue Per Available Room) is mixed based on the information provided.

1. Recent Performance: In the second quarter, domestic RevPAR growth accelerated, improving 540 basis points sequentially and exceeding pre-pandemic levels. Specifically, compared to 2019, RevPAR increased by 11%, with average daily rates improving by 15.1% and occupancy levels reaching 96% of pre-pandemic performance.
2. Year-over-Year Comparison: However, there was a decline of 50 basis points year-over-year in RevPAR, attributed to a 10 basis point increase in occupancy levels being offset by a 60 basis point decline in average daily rates.
3. Future Outlook: The company has lowered its full-year domestic RevPAR guidance to a range of negative 1.5% to negative 3.5%. They expect the second half of the year to maintain a similar performance to the first half, with expectations that RevPAR will exceed 2019 levels by approximately 10 percentage points at the midpoint of their guidance.
4. Long-Term Trends: Historically, the company anticipates a long-term average yearly RevPAR growth of between 2% and 3%.

In summary, while there was a positive acceleration in RevPAR growth in the second quarter compared to the first quarter and pre-pandemic levels, the year-over-year decline and the lowered guidance indicate a cautious outlook moving forward.

symbol: IHG

question: how is “revpar” trending?

The information provided indicates that RevPAR (Revenue Per Available Room) is showing a positive trend in the U.S., with an acceleration in RevPAR across all brands in the second quarter compared to the first quarter, except for one brand (Kimpton). The company has also reported positive RevPAR for all three months of the second quarter and has seen a continuation of this positive trend into July and August.

However, there are challenges in China, where RevPAR growth is being impacted by tougher comparisons to 2019, particularly in the third quarter. The company anticipates that the comparisons will become easier in the fourth quarter.

Overall, while RevPAR is trending positively in the U.S. and some other regions, there are concerns about the situation in China, which may affect future growth.

In summary, RevPAR is trending positively in the U.S. but is facing challenges in China due to tougher year-over-year comparisons.

symbol: MAR

question: how is “revpar” trending?

RevPAR (Revenue Per Available Room) is trending positively in several regions, with specific details as follows:

1. US and Canada: RevPAR rose nearly 4% in the second quarter, benefiting from the shift of the Easter holiday. All chain scales in these regions posted positive year-over-year RevPAR growth.
2. Internationally: RevPAR increased over 7%, with notable gains:
   • Asia Pacific (excluding China): RevPAR rose 13%, driven by strong macro trends and increased cross-border travel, particularly in Japan where it rose 21%.
   • EMEA (Europe, Middle East, and Africa): RevPAR grew nearly 10%.
   • CALA (Caribbean and Latin America): RevPAR increased by about 9%.
3. Greater China: In contrast, RevPAR declined roughly 4% due to macroeconomic pressures and softer domestic demand. This region is expected to see continued weakness, with the third quarter anticipated to experience the most significant decline.
4. Outlook for 2024: Global RevPAR is expected to grow by 3% to 4% for the full year, with growth anticipated to be higher in most international markets compared to the US and Canada.

Overall, while there are positive trends in many regions, Greater China is a notable exception with expected declines.

symbol: HTHT

question: how is “revpar” trending?

The trend for “RevPAR” (Revenue Per Available Room) is currently showing a decline. According to the information provided, there was a reported year-over-year decline of around 10% in RevPAR for July and several weeks of August. Additionally, for the third quarter, it is expected that RevPAR may decline by around mid-single digits year-over-year.

However, it is noted that the company’s RevPAR performance has historically outpaced the industry average, and there is an expectation that RevPAR will gradually return to a healthier and more sustainable development trend in the future.

In summary, while there is a current decline in RevPAR, there are indications of potential recovery moving forward.

kpi-adr

symbol: H

question: how is pricing in Average Daily Rate (ADR) trending?

The Average Daily Rate (ADR) is trending positively, with an increase of 5% year-over-year. This growth in ADR is a significant contributor to the overall pace increase of more than 7.5%. The company has noted that the bookings they are receiving are not just filling rooms at lower rates, indicating a strong demand for higher-priced accommodations. Additionally, there is a notable increase in tentative bookings for the future, suggesting continued strength in pricing trends.

symbol: WH

question: how is pricing in Average Daily Rate (ADR) trending?

The pricing in Average Daily Rate (ADR) is currently holding steady throughout the quarter at 17% above pre-pandemic levels. This suggests that while ADR is above pre-pandemic levels, it is still trailing real inflation growth, indicating that there may be potential for pricing to be adjusted upward in the future. Additionally, there has been an increase in the gap between different chain scales, with the ADR gap between the economy segment and the upper midscale segment growing to $60, and the gap between the upper midscale and upper upscale segments increasing to $80. Overall, the company is encouraged by the maintenance of pricing power and believes that pricing can continue to be flexed in the years ahead.

symbol: CHH

question: how is pricing in Average Daily Rate (ADR) trending?

The information provided indicates that the Average Daily Rate (ADR) is currently trending downward. Specifically, it mentions a “60 basis point decline in average daily rates” year-over-year. Additionally, while there was an increase in occupancy levels, the overall RevPAR (Revenue per Available Room) was down 50 basis points, which was attributed to this decline in ADR.

Overall, the data suggests that while occupancy may be improving, the average daily rates are experiencing a decline, which is a concerning trend for pricing in ADR.

symbol: IHG

question: how is pricing in Average Daily Rate (ADR) trending?

The information provided indicates that the Average Daily Rate (ADR) is showing some positive trends in certain segments, particularly with brands like Holiday Inn Express and Holiday Inn, which reported rate increases of 1.7% and 1.5%, respectively. Additionally, the overall rate in the Americas for the quarter was up by 1.8%.

However, there are mentions of some brands in the U.S. experiencing negative ADRs, which suggests that the performance may vary significantly across different brands and markets. The overall sentiment seems to indicate that while there are pockets of growth, there are also challenges in specific areas.

In summary, while there are positive trends in ADR for some brands, there are also negative trends for others, indicating a mixed outlook. The company does not foresee a negative RevPAR for the rest of the year, which could be a positive sign for ADR moving forward.

symbol: MAR

question: how is pricing in Average Daily Rate (ADR) trending?

The Average Daily Rate (ADR) is trending positively, with an increase of around 3% reported in the most recent quarter. Additionally, there was a 4% rise in ADR within the group segment, which is a significant contributor to overall performance. This indicates that pricing in terms of ADR is experiencing growth, albeit at a moderate pace compared to other metrics like RevPAR, which saw a more substantial increase in certain segments. Overall, the trends suggest a steady improvement in pricing, particularly in the upper chain scales compared to lower ones.

symbol: HTHT

question: how is pricing in Average Daily Rate (ADR) trending?

The Average Daily Rate (ADR) is currently trending downwards. In the second quarter, the ADR was reported at RMB296, which represents a decline of 2.9% year-over-year. This decrease in ADR is part of a broader context where the company is experiencing challenges in the macroeconomic environment and consumption patterns. However, there is an expectation that ADR will gradually return to a healthier and more sustainable growth trend moving forward, as the company is taking proactive measures to improve ADR through product upgrades and enhanced customer experiences.

kpi-occupancy

symbol: H

question: how is occupancy trending?

Occupancy is trending positively, with greater demand realized in the first half of the year from business transient travelers, which had previously been lagging. Occupancy rates in convention and business hotels are now much closer to pre-pandemic levels. However, there is still room for growth on the occupancy side, indicating that while there are improvements, the company sees opportunities to further increase occupancy rates moving forward. Additionally, group bookings are split between occupancy and rate, suggesting a balanced approach to growth in both areas.

symbol: WH

question: how is occupancy trending?

Occupancy is currently trending at 10% below where it was in 2019, indicating a continued recovery at varying rates globally. There are signs of improvement, particularly in states impacted by recent hurricanes, where occupancy has increased by over 10%. Additionally, some hotels are reporting occupancy rates greater than 90%, suggesting strong demand in certain areas. Overall, while occupancy is recovering, it still has a way to go to reach pre-2019 levels.

symbol: CHH

question: how is occupancy trending?

The information provided does indicate some trends related to occupancy levels. Specifically, it mentions that domestic occupancy levels achieved 96% of pre-pandemic performance. Additionally, there was a 10 basis point increase in occupancy levels year-over-year, although this was offset by a decline in average daily rates, leading to a decrease in RevPAR.

However, the data does not provide a comprehensive view of occupancy trends over time or specific future expectations for occupancy. Therefore, while we know that occupancy is currently close to pre-pandemic levels and has seen a slight increase, we cannot definitively describe the overall trend without more detailed historical data or future projections.

symbol: IHG

question: how is occupancy trending?

The provided data does not contain specific information about occupancy trends. While there are mentions of RevPAR (Revenue Per Available Room) and its implications for occupancy, the data does not explicitly state how occupancy itself is trending.

The discussion includes references to RevPAR performance in various regions, the impact of external factors like travel restrictions, and general market conditions, but it does not provide direct insights into occupancy rates or trends. Therefore, I cannot answer the question regarding how occupancy is trending based on the information available.

symbol: MAR

question: how is occupancy trending?

Occupancy is trending positively, having reached 73%, which is an increase of about 150 basis points compared to the same quarter last year. Additionally, luxury tier hotels showed the best improvement in occupancy, with an increase of almost 2.5 points year-over-year. This indicates a strong demand for travel, particularly among high-end consumers.

symbol: HTHT

question: how is occupancy trending?

Occupancy is trending positively, with an increase of 0.7 percentage points year-over-year. This improvement aligns with the company’s occupancy rate targets set at the beginning of the year and reflects the stability of overall travel demand. Additionally, the company expects both occupancy rates and average daily rates (ADR) to gradually return to a relatively healthy and sustainable growth trend moving forward.

kpi-booking-nights

symbol: H

question: how are booking nights trending?

The information provided indicates that booking nights are trending positively. Specifically, July was described as “extraordinarily strong” in terms of total bookings, with a full cycle net production increase of 16%. Additionally, the pace of bookings from August through December is up 6%, and the average daily rate (ADR) has increased by 5%. There is also a notable increase in tentative bookings, which are running ahead of previous years, with about 60% of total business already on the books for the next year.

Overall, the data suggests a strong upward trend in booking nights, particularly with the anticipation of increased bookings in the upcoming months and into 2025.

symbol: WH

question: how are booking nights trending?

The provided data does not explicitly mention how booking nights are trending. While there are references to positive indicators such as increased booking windows (up 5% year-to-date), improved leisure travel sentiments, and strong disposable personal income, there is no direct information regarding the specific trend of booking nights themselves.

Therefore, I cannot answer the question about how booking nights are trending based on the information given.

symbol: CHH

question: how are booking nights trending?

The provided data does not contain specific information about the trend of booking nights. While there are mentions of RevPAR (Revenue Per Available Room) growth, occupancy levels, and the performance of various hotel segments, there is no direct reference to the number of booking nights or how they are trending over time.

Therefore, I cannot answer the question regarding how booking nights are trending based on the information given.

symbol: IHG

question: how are booking nights trending?

The provided data does not explicitly mention how booking nights are trending. While there are references to group bookings being significantly up year-over-year and some insights into business travel and room nights, there is no clear trend or specific data regarding overall booking nights.

Therefore, I cannot answer the question about how booking nights are trending based on the information given.

symbol: MAR

question: how are booking nights trending?

The trend in booking nights shows a mixed picture. For the balance of 2024, forward bookings are consistent with the previous quarter, reflecting a 9% improvement. However, for 2025, bookings are pacing at 9%, which indicates a slight erosion from the previous quarter. This change is primarily attributed to the pace in room nights and the length of time that customers are booking.

In terms of specific segments, group bookings, which accounted for 24% of worldwide room nights, have shown strong performance, with group RevPAR rising 10% globally compared to the year-ago quarter. Additionally, full-year 2024 worldwide group revenues are still pacing up 9% year-over-year, supported by a 5% increase in room nights.

Overall, while there is some erosion in the booking pace for 2025, the group segment remains strong, and the overall trend for 2024 appears positive.

symbol: HTHT

question: how are booking nights trending?

The data indicates that booking nights are trending positively, particularly through the company’s direct B2B platform. In the second quarter of 2024, the number of room nights booked directly via this platform exceeded 6 million, which represents a 31% increase year-over-year and a 26% increase quarter-over-quarter. Additionally, the overall travel demand in China remained resilient, with a reported 21% year-over-year increase in the total number of room nights sold during the same quarter.

Overall, these figures suggest a strong upward trend in booking nights, particularly driven by the growth in the B2B segment and the recovery of travel demand.

growth-hotels

symbol: H

question: what did they about system growth (number of hotels in operation)?

The information provided does not specify the exact number of hotels in operation or the specific details regarding system growth in terms of the number of hotels. It mentions expectations for net rooms growth between 5.5% and 6%, driven by organic growth, conversions, and potential portfolio transactions, but does not provide a current count of hotels or a detailed breakdown of system growth.

Therefore, I cannot answer the question about the specific number of hotels in operation or detailed system growth metrics.

symbol: WH

question: what did they about system growth (number of hotels in operation)?

The earnings call data indicates that the company experienced significant growth in its hotel operations. Specifically, they opened over 17,000 rooms in the current year, bringing the total number of rooms opened year-to-date to more than 48,000 globally, which represents a 13% increase compared to the previous year. Additionally, the global development pipeline has grown nearly 5% year-over-year to a record 248,000 rooms.

Domestically, there was a solid 3% net room growth in mid-scale and above brands, and the company has also seen strong performance from new construction brands like ECHO Suites, with several new contracts awarded and hotels under construction.

Overall, the company is optimistic about future growth, with a strong pipeline and increased franchise sales contributing to their confidence in continued net room growth.

symbol: CHH

question: what did they about system growth (number of hotels in operation)?

The information provided does not specifically mention the total number of hotels in operation or the exact system growth in terms of the number of hotels. However, it does indicate that there was a 1% year-over-year growth in domestic unit growth across various segments, and that the company executed 118 hotel openings, averaging over 4 openings per week in the U.S. Additionally, the domestic pipeline increased by 11% year-over-year.

While these details provide some context about growth trends and openings, they do not directly answer the question regarding the total number of hotels in operation or a specific figure for system growth. Therefore, I cannot provide a precise answer to your question based on the available data.

symbol: IHG

question: what did they about system growth (number of hotels in operation)?

The earnings call data indicates that the company experienced gross system growth of 4.9% and net system growth of 3.2%. They secured record-breaking signings of over 57,000 rooms, which is a 67% increase year-over-year. Additionally, they expect to open over 7,000 rooms this year, having already opened 1,000. There is also an expectation of a similar number of openings next year and possibly some into 2026.

This information suggests that the company is experiencing positive system growth in terms of the number of hotels in operation. However, specific details about the total number of hotels currently in operation or the exact impact of this growth on their overall strategy were not provided in the data.

symbol: MAR

question: what did they about system growth (number of hotels in operation)?

The earnings call data indicates that the company added approximately 15,500 net rooms during the quarter, bringing the total number of rooms to nearly 1.66 million. Additionally, the company reported record signings in APEC and Greater China, which helped grow their pipeline to over 559,000 rooms worldwide. Conversions, which included multi-unit opportunities, were also highlighted as a significant driver of growth, representing 37% of openings and 32% of signings in the second quarter.

Overall, the company is experiencing meaningful growth in its global portfolio, which is outpacing overall industry supply. However, it is noted that while the growth is positive, it is still below 2019 levels.

symbol: HTHT

question: what did they about system growth (number of hotels in operation)?

During the earnings call, it was mentioned that at the end of the second quarter of 2024, the number of upper-mid hotels in operation reached 738, which represents a 31% increase year-over-year and an 8% increase quarter-over-quarter. Additionally, the number of hotels in the pipeline reached 509, showing a 61% year-over-year increase and an 18% quarter-over-quarter increase. The sequential growth rate of both the number of hotels in operation and hotels in the pipeline accelerated compared to the previous quarter, indicating that the company’s upper-mid brands are gaining recognition among customers and franchisees.

Furthermore, the overall number of hotels in operation for the group reached 10,000, with the total number of rooms increasing by 19% year-over-year to over 1 million. The company also revised its full-year growth hotel opening target to over 2,200 hotels, up from the previous guidance of around 1,800 hotels.

growth-outlook-sales

symbol: H

question: What is the growth outlook?

The growth outlook appears to be cautiously optimistic, with several key points highlighted in the data:

1. RevPAR Growth: The company expects full-year system-wide RevPAR growth between 3% and 4% compared to 2023. Specifically, for the United States, RevPAR growth is anticipated to be approximately 2%, driven by group and business travel in the third quarter.
2. Net Rooms Growth: The company projects net rooms growth between 5.5% and 6%, which will be supported by organic growth, conversions, and potential portfolio transactions.
3. Group and Business Travel: There is a positive outlook for group room revenue, which increased approximately 8% in the quarter, and group pace for US full-service managed properties is up 7% for the second half of 2024.
4. International Markets: RevPAR growth in other international markets is expected to exceed the high end of the range, particularly in Europe and Asia Pacific, excluding Greater China.
5. Challenges in Greater China: The outlook for RevPAR growth in Greater China is negative for the last two quarters of the year due to tougher comparisons and increased outbound international travel.
6. Long-term Growth Potential: The company is optimistic about its growth trajectory, particularly with the acquisition of the “me and all hotels” brand, which is expected to enhance growth in the upscale segment in Europe.

Overall, while there are some challenges, particularly in Greater China, the company is positioned for growth in other markets and is optimistic about its future performance.

question: What is their guidance for expected future sales growth?

The guidance for expected future sales growth is not explicitly stated in the provided data. However, there are several indicators of growth expectations:

1. RevPAR Growth: The company anticipates system-wide RevPAR growth between 3% and 4% compared to 2023. Specifically, they expect United States RevPAR growth for the full year of approximately 2%, with growth in other international markets expected to exceed the high end of their range.
2. Gross Fees: Gross fees are expected to be in the range of $1.085 billion to $1.115 billion, which represents a 13% increase at the midpoint of their range compared to last year.
3. Adjusted EBITDA: The company expects adjusted EBITDA to be in the range of $1.135 billion to $1.175 billion, indicating a 10% increase at the midpoint compared to last year.
4. Net Rooms Growth: They expect net rooms growth between 5.5% and 6%, driven by organic growth, conversions, and potential portfolio transactions.

While these figures suggest positive growth expectations, the specific guidance for overall sales growth is not directly provided in the data. Therefore, I cannot provide a definitive answer regarding their guidance for expected future sales growth.

question: How are their expectations for sales growth?

The expectations for sales growth, specifically in terms of RevPAR (Revenue per Available Room), indicate a mixed outlook. For the full year, the company anticipates system-wide RevPAR growth between 3% and 4% compared to 2023. In the United States, they expect RevPAR growth of approximately 2%, primarily driven by group and business travel in the third quarter. However, they project negative RevPAR growth in Greater China for the last two quarters of the year due to tougher comparisons and increased outbound international travel.

In other international markets, particularly Europe and Asia Pacific (excluding Greater China), they expect RevPAR growth to exceed the high end of their range. Overall, while there are positive growth expectations in certain regions, challenges in Greater China and varying performance across different markets suggest a nuanced outlook for sales growth.

symbol: WH

question: What is the growth outlook?

The growth outlook appears to be very positive based on the information provided. The company has reported a record high new construction pipeline, with nearly 1,500 hotels globally, and a 3% year-on-year increase in the pipeline for La Quinta. Additionally, new brands like ECHO Suites are expected to contribute significantly to growth in the coming years. The conversion pipeline has also seen a substantial increase of 30%.

The company expresses confidence in exceeding the current year’s net room growth rate next year, supported by a strong pipeline and an experienced franchise sales team. They anticipate a long-term net room growth rate of 3% to 5%, with positive momentum expected to continue into the next year. Furthermore, international growth is also highlighted, with high single-digit net room growth projected.

Overall, the company is optimistic about its growth prospects, driven by a robust pipeline, new brand initiatives, and a strong performance in both domestic and international markets.

question: What is their guidance for expected future sales growth?

The provided data does not explicitly mention the company’s guidance for expected future sales growth. While there are discussions about net room growth, ancillary revenue opportunities, and overall confidence in future performance, specific figures or percentages related to sales growth are not included. Therefore, I cannot answer the question regarding their guidance for expected future sales growth based on the information given.

question: How are their expectations for sales growth?

The expectations for sales growth appear to be positive based on the information provided. The company expresses strong confidence in their net room growth, indicating that they believe next year’s growth rate could exceed this year’s. They highlight a record development pipeline and improvements in their franchise sales, which suggest a robust outlook for future sales growth. Additionally, they mention positive trends in RevPAR (Revenue Per Available Room) and ancillary revenue opportunities, which further support their optimistic expectations for sales growth moving into 2025.

Overall, the sentiment conveyed is one of confidence and excitement about the opportunities ahead, indicating a favorable outlook for sales growth.

symbol: CHH

question: What is the growth outlook?

The growth outlook for the company appears to be positive based on several key factors mentioned in the earnings call. The company is confident in its long-term growth prospects, particularly in the extended-stay and upscale segments, which are expected to continue to fuel growth. The acquisition of Radisson is also anticipated to enhance growth, as it includes sought-after brands in the upscale segment.

In terms of specific metrics, the company expects adjusted EBITDA growth of approximately 9% at the midpoint of its outlook range for 2024. Additionally, the company has reported a record global pipeline of approximately 115,000 rooms, representing a 22% increase year-over-year, and has accelerated hotel openings, achieving a 10% increase in domestic openings year-over-year.

Overall, the company is positioned to capitalize on favorable long-term trends in travel, such as an increasing number of retirees and flexible work arrangements, which are expected to expand the pool of target travelers. This strategic positioning, combined with a focus on revenue-intense brands and effective royalty rate growth, supports a confident growth outlook for the coming years.

question: What is their guidance for expected future sales growth?

The guidance for expected future sales growth is not explicitly stated in the provided data. However, there are indications of expected growth in terms of EBITDA. The company has mentioned expectations for high single-digit EBITDA growth, which they anticipate will continue in the coming years. Specifically, they expect adjusted EBITDA growth of 9% at the midpoint of their outlook range for 2024. Additionally, they have noted that their long-term strategy aims to drive high single-digit EBITDA growth over time.

While this provides some insight into their financial expectations, it does not directly translate to sales growth guidance. The data does not specify a percentage or range for future sales growth, making it difficult to provide a precise answer to the question.

question: How are their expectations for sales growth?

The expectations for sales growth, as indicated in the earnings call data, suggest a cautious but optimistic outlook. The company anticipates achieving an adjusted EBITDA growth of approximately 9% at the midpoint of their outlook range for 2024, despite a normalizing domestic RevPAR environment. They expect to see continued growth driven by several factors, including:

1. Increased System Size: The company has been expanding its portfolio of revenue-intense hotels, which is expected to fuel higher RevPAR premiums compared to their existing base of hotels.
2. Unit Growth: They reported a domestic unit growth of 1% year-over-year and have a strong pipeline of approximately 115,000 rooms, which represents a 22% increase year-over-year. This pipeline is expected to contribute to future growth opportunities.
3. Ancillary Revenue Streams: The company is also seeing better-than-expected performance from ancillary revenues, which are contributing positively to their overall growth outlook.
4. Franchise Agreements: There has been an increase in domestic franchise agreements for their revenue-intense brands, which is expected to support growth.

Overall, while there are uncertainties in the economic environment, the company remains confident in its growth strategy and the potential for sales growth through various initiatives and market dynamics.

symbol: IHG

question: What is the growth outlook?

The growth outlook appears to be positive based on the information provided. The company reported a gross system growth of 4.9% and net system growth of 3.2% in the first half of the year, with confidence in meeting full-year growth expectations. They secured record-breaking signings of over 57,000 rooms, which is a 67% increase year-over-year, and their pipeline grew by 15%. Additionally, they expanded their fee margin by 180 basis points, supporting operating profit growth and a 12% increase in earnings per share (EPS).

The company also mentioned that their enterprise system is strong, and they are making excellent progress on their strategic priorities, which contributes to an attractive long-term growth outlook. Furthermore, they expect to return over $1 billion to shareholders in 2024, indicating confidence in their financial health and growth potential.

Overall, the data suggests a favorable growth outlook driven by strong performance metrics and strategic initiatives.

question: What is their guidance for expected future sales growth?

The provided data does not explicitly state the company’s guidance for expected future sales growth. While there are mentions of growth metrics such as “12% underlying reportable segment EBIT growth” and “earnings per share at around 15% growth,” these figures do not directly translate to future sales growth guidance. Additionally, there are references to confidence in delivering full-year growth expectations and positive trends in RevPAR, but no specific percentage or forecast for future sales growth is given.

Therefore, I cannot answer the question regarding their guidance for expected future sales growth based on the information provided.

question: How are their expectations for sales growth?

The expectations for sales growth appear to be positive based on the information provided. The company reported a gross system growth of 4.9% and net system growth of 3.2% in the first half of the year, and they expressed confidence in delivering full-year growth expectations. Additionally, they secured record-breaking signings of over 57,000 rooms, which is up 67% year-over-year, and their pipeline grew by 15%.

Furthermore, the company mentioned that they expect to deliver EBITDA EPS growth of 12% to 15%, indicating a strong outlook for profitability alongside sales growth. Overall, the comments suggest that the company is optimistic about its sales growth trajectory moving forward.

symbol: MAR

question: What is the growth outlook?

The growth outlook indicates that global RevPAR (Revenue Per Available Room) is expected to grow by 3% to 4% for the full year and in the third quarter. However, there are challenges, particularly in Greater China, where negative RevPAR growth is anticipated due to weak demand and pricing trends. In contrast, RevPAR growth is expected to be higher in most international markets compared to the US and Canada.

Additionally, gross fee growth is projected to be in the range of 6% to 8%, with full-year gross fees expected to rise by 6% to 7%, reaching between $5.1 billion and $5.2 billion. The company also expects a full-year net rooms growth of 5.5% to 6%.

Overall, while there are positive growth expectations in certain areas, the outlook is tempered by specific regional challenges, particularly in Greater China.

question: What is their guidance for expected future sales growth?

The guidance for expected future sales growth is that the company continues to believe in achieving a compound annual growth rate (CAGR) of 5% to 5.5%, as stated during their Analyst Day in September 2023. However, they are not ready to discuss specifics for the next year at this time.

question: How are their expectations for sales growth?

The expectations for sales growth, as indicated in the earnings call data, suggest a cautious but optimistic outlook. The company continues to believe in achieving a compound annual growth rate (CAGR) of 5% to 5.5% for sales, as stated during their Analyst Day in September 2023. They are not ready to discuss specifics for the next year but maintain that this guidance is appropriate.

Additionally, gross fee growth is expected to be in the range of 6% to 8% for the third quarter, with full-year gross fees anticipated to rise by 6% to 7%, reaching between $5.1 billion and $5.2 billion. This indicates a positive outlook for sales growth, although there are some challenges noted, particularly in Greater China and certain markets in the US and Canada, which may impact overall performance.

In summary, while there are some headwinds, the company is projecting steady growth in sales, particularly driven by strong group revenue and improvements in business transient revenues.

symbol: HTHT

question: What is the growth outlook?

The growth outlook for the company appears to be positive based on several key points from the earnings call data:

1. Expansion into Lower-Tier Cities: The company is actively penetrating lower-tier cities, with 41% of hotels in operation located in Tier 3 and below cities, which has increased year-over-year. The pipeline for future hotels in these areas is also strong, indicating ongoing growth potential.
2. Increased Hotel Openings: The company has revised its full-year growth hotel opening target to over 2,200 hotels, up from a previous target of around 1,800 hotels. This reflects a strong momentum in hotel openings, which is a positive indicator for future growth.
3. Revenue Growth Expectations: For the third quarter of 2024, the company expects revenue to grow between 2% to 5% compared to the same quarter last year. This growth is supported by strong hotel opening momentum and a focus on high-quality growth.
4. Strong Demand and Market Positioning: The management has noted strong traveling demand in certain regions, and they are focusing on the mass market while maintaining a competitive edge through high-quality service and product offerings.
5. Long-Term Confidence: The management expresses confidence in their long-term strategy, emphasizing sustainable growth and the importance of high-quality supply in the hotel market.

Overall, the company is positioning itself for continued growth through strategic expansion, increased hotel openings, and a focus on quality and customer satisfaction.

question: What is their guidance for expected future sales growth?

The guidance for expected future sales growth is as follows: For the third quarter of 2024, the company expects revenue to grow between 2% to 5% compared to the same quarter last year, or 1% to 4% excluding Legacy-DH. Additionally, they have revised their full-year growth hotel opening target to over 2,200 hotels, up from the previous guidance of around 1,800 hotels. However, specific guidance for overall sales growth beyond the third quarter is not provided in the data.

question: How are their expectations for sales growth?

The expectations for sales growth, as indicated in the earnings call data, suggest a revenue growth forecast for the third quarter of 2024 between 2% to 5% compared to the same quarter last year, or 1% to 4% when excluding DH. Additionally, the company has revised its full-year growth hotel opening target to over 2,200 hotels, up from the previous guidance of around 1,800 hotels, which reflects strong hotel opening momentum.

Overall, while there are some challenges indicated by a decline in RevPAR (Revenue per Available Room) in the industry, the company appears to maintain a positive outlook on its sales growth driven by new hotel openings and an asset-light transformation strategy.