Wyndham and Hilton Beat Earnings Expectations
Skift Take
- Wyndham and Hilton kicked off the lodging earnings season, both with solid reports.
- It was an interesting day with the DJIA up 3 points but Nasdaq down 228. Don’t you love earnings season?
- Meanwhile, hotel RevPAR for the week ended 10/22 was up 27.8%, according to STR.
It was an interesting day with the DJIA up 3 points but Nasdaq down 228. Don’t you love earnings season? The S&P 500 fell 29 points, the 10-year treasury yield was down .09 to 4.02% and lodging stocks were mixed. The biggest mover was MCG, up 9%.
Wyndham and Hilton kicked off the lodging earnings season, both with solid reports. WH beat results, which is not surprising, raised its full-year outlook and after $142 million of share repurchases last quarter, said their board of directors was raising their repurchase authorization by $400 million. WH was up 2%
Hilton beat on EBITDA but was a little light on revenue while RevPAR was at the high end of their guide. HLT made it quite clear they are seeing no slowdown in business, saying 4Q system-wide RevPAR is exceeding prior peaks. HLT repurchased 4 million shares in the quarter for $497 million. HLT was down -1%.
Meanwhile, hotel RevPAR for the week&n
