Deutsche Bank and Truist Make Fourth-Quarter RevPAR Projections


Skift Take

JPMorgan, Deutsche Bank, and Truist provide their earnings previews. Plus, more hotel deal and development news.

JPMorgan said it believes investor expectations appear reasonably set as we head into the fourth-quarter earnings season, with U.S. lodging trends remaining mixed. JPM is expecting C-Corps to guide conservatively, given their comments at ALIS, but there is an upside picture as we lap 2025 negative events and look towards the World Cup and America’s 250th. JPM continues to prefer C-Corps over REITs, especially HLT, H, and WH. It does like HST as it has the REIT on its Positive Catalyst Watch going into fourth-quarter earnings.Deutsche Bank expects Lodging C-Corps' fourth-quarter 2025 RevPAR to have come in at or below consensus forecasts. It thinks the 2026 guidance and further 2026 commentary on the conference calls will impact the stocks more. DB is expecting C-Corps to guide 2026 RevPAR ranges within the midpoints of 1% to 2% growth, largely in line with forecasts. It remains Buy rated on H and WH, with Hold ratings on HLT, MAR, and CHH.Truist said