Wyndham and Accor Post Earnings Updates
Skift Take
Wyndham showed strong performance through expense containment and share repurchases, and Accor increased RevPAR, net unit growth, and EBITDA.
The good news is the response to the earnings reports last night were better than the one from Travel + Leisure yesterday. Wyndham went back to the basics with an earnings beat (read more on Skift), mostly on expense containment, a pipeline at record levels, and higher share repurchases. WH said they bought back 1.8 million shares for $131 million in 2Q24. The past four quarters had dollar amounts of repurchases ranging from $57 million (1Q24) to $127 million (4Q23).
The response to Pebblebrook Hotel Trust’s earnings report was either strange or showed investors understood what was going on. First, PEB beat 2Q24 estimates, which is good considering they give everyone monthly updates. They reduced their RevPAR outlook for the full year 2024, despite the beat, and issued a statement saying, “Leisure consumers have become increasingly price-conscious, particularly within the lower-priced segments, and this trend is beginning to impact som
