Earnings Day for Host Hotels, RLJ, Xenia and More
Skift Take
Many U.S. hotel companies reported earnings, with RLJ Lodging Trust beating estimates but giving a softer forecast, Xenia Hotels missing across the board, and Host Hotels posting a modest beat despite hurricane impacts.
It seems like half the public hotel companies in the U.S. reported earnings in the last 24 hours, so given that volume and the commentary from the recent survey of subscribers that earnings reports are low on the list of why you read the DLR each day, this will be quick. The best report of the day was RLJ Lodging Trust, beating 3Q estimates. The offset was they gave a somewhat softer 4Q24 forecast. The worst earnings report was from Xenia Hotels, with analysts seeming a bit upset that the miss was pretty much across the board with their results, not just one specific thing. Revenues were only a tad light, but EBITDAre and AFFO were well below consensus.
Host Hotels reported a modest beat, with Group outperformance offsetting any issues from the hurricanes that they were hit with. Hurricanes Milton and Helene impacts will be felt the rest of the year and into 2025.
The two getting the best reaction on their earnings reports were Marriott Vacations and Cha
