Hilton Expects 4Q RevPAR to Be Positive
Photo Credit: The Skirvin Hotel lobby. Hilton
Skift Take
Hilton expects fourth-quarter RevPAR to be in positive territory due to the stronger group travel, easier comps, and holiday shifts. Plus more hotel news.
The DJIA fell 334 points, the Nasdaq was down 213, the S&P 500 was down 36 points, and the 10-year treasury yield was down .01 to 3.95%. Lodging stocks had a decent day due to the earnings report. TNL rose 15% on their report, bringing up HGV (+5%) and VAC (+4%). HLT was up 3.4% but the entire group responded to their commentary. BHR was also up 5% today, but SOND plunged 12% and is now back below $1 again.
On the first day of earnings season, we had anxiety about what we would hear. But reports from Hilton and Travel + Leisure both ended up well-received. For HLT, it was a combination of their view that fourth-quarter group business is stronger and that NUG did not fall back. HLT expects fourth-quarter RevPAR to be in positive territory due to the stronger group travel, easier comps, and holiday shifts. HLT bought back 2.8 million shares in the third quarter for $
