A Few Top Takeaways From Hotel Earnings Season
Skift Take
Hotel companies have been booking it in the post-pandemic rebound. The latest earnings season suggests that the good times should continue to roll through much of the year, barring a surprise.
Early Check-In
Editor’s Note: Skift Senior Hospitality Editor Sean O’Neill brings readers exclusive reporting and insights into hotel deals and development, and how those trends are making an impact across the travel industry.It was a stellar hotel earnings season. Demand remains strong, and pricing remains robust, according to groups reporting their financial performance in February 2023.
After covering hotel earnings in a dozen stories and posts, I've been preparing for a soon-to-air podcast chat with Pranavi Agarwal, the London-based Senior Analyst at Skift Research, on this topic. Here are a few themes that popped to mind.
Ongoing ResilienceAnalysts scoured results for any glimpse of a slowdown in demand. But they didn't find any in either the fourth quarter results or the upbeat outlook from executives for at least the next nine months of the year.
Marriott said that group bookings revenue for 2023 is already pacing up 20 percent year-over-year, with room nights and rate gains. Hyatt forecasted that it would generate 2023 system-wide revenue per room growth of 10 percent to 15 percent compared to 2022. Many executives expressed their faith that the hotel s
