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For all three international hotel groups, third quarter 2022 results exceed pre-covid levels.
With the virtual disappearance of sanitary rules in the world, tourism and travel have picked up again. And this has benefited the major hotel groups such as Accor, Hilton or Wyndham between June and September.
Hilton Group CEO Chris Nassetta reported diluted earnings per share of $1.26 and net income of $346 million, exceeding the group’s forecasts. Adjusted EBITDA was $732 million, also exceeding the high end of forecasts.
At the same time, RevPar (Revenue Per Available Room) was up 29.9 percent compared to the same period in 2021 and up 5 percent compared to the third quarter of 2019.
Wyndham Hotel Group also had a strong quarter, generating $407 million in revenue. It also raised its 2022 EBITDA outlook by $19 million. The positive quarterly results were driven in part by the acquisition of its 23rd brand, Vienna House.
Wyndham’s U.S. portfolio delivered a quarterly RevPar at 110% of 2019 levels. This is the highest ever recorded by the group,while its global RevPar was up 12% from 2021. RW Baird analyst Michael Bellisario notes, “Wyndham’s third quarter 2022 results earnings beat expectations, with the main driver being better-than-expected RevPAR growth, particularly internationally.”
For Accor, the group’s positive momentum continued in the third quarter with RevPar and revenue results well above their 2019 levels. In addition to Asia-Pacific, where business is recovering, all regions are growing compared to 2019, according to CEO Sébastien Bazin. “This good performance, coupled with strict operational and financial discipline, gives us confidence in our ability to reach the top end of our EBITDA guidance range for the full year, which should be between €610 million and €640 million,” he said.
Its revenue is up 83% in the third quarter of 2022, compared to 2021. RevPar, meanwhile, was up 14 percent overall in quarter three compared to 2019.
For the group, these results are due to the opening of many facilities around the world. That is, during the third quarter, no less than 93 hotels and 15,300 rooms. This represents a net unit growth of 2.4% over the last 12 months. For 2022, the group confirms its forecast of 3.5% net network growth.
All of these figures show that the hotel industry is recovering. They have been able to cope with the health crisis by finding new alternatives and opening new resorts to meet the growing demand.
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For all three international hotel groups, third quarter 2022 results exceed pre-covid levels.
With the virtual disappearance of sanitary rules in the world, tourism and travel have picked up again. And this has benefited the major hotel groups such as Accor, Hilton or Wyndham between June and September.
Hilton Group CEO Chris Nassetta reported diluted earnings per share of $1.26 and net income of $346 million, exceeding the group’s forecasts. Adjusted EBITDA was $732 million, also exceeding the high end of forecasts.
At the same time, RevPar (Revenue Per Available Room) was up 29.9 percent compared to the same period in 2021 and up 5 percent compared to the third quarter of 2019.
Wyndham Hotel Group also had a strong quarter, generating $407 million in revenue. It also raised its 2022 EBITDA outlook by $19 million. The positive quarterly results were driven in part by the acquisition of its 23rd brand, Vienna House.
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For all three international hotel groups, third quarter 2022 results exceed pre-covid levels.
With the virtual disappearance of sanitary rules in the world, tourism and travel have picked up again. And this has benefited the major hotel groups such as Accor, Hilton or Wyndham between June and September.
Hilton Group CEO Chris Nassetta reported diluted earnings per share of $1.26 and net income of $346 million, exceeding the group’s forecasts. Adjusted EBITDA was $732 million, also exceeding the high end of forecasts.
At the same time, RevPar (Revenue Per Available Room) was up 29.9 percent compared to the same period in 2021 and up 5 percent compared to the third quarter of 2019.
Wyndham Hotel Group also had a strong quarter, generating $407 million in revenue. It also raised its 2022 EBITDA outlook by $19 million. The positive quarterly results were driven in part by the acquisition of its 23rd brand, Vienna House.
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