Government Shutdown Cut Business Travel But Leisure Revenue Grew
Skift Take
A 43-day U.S. government shutdown cut business travel in 4Q25 while global leisure revenue grew and Hilton laid out big plans for Brazil. Plus, hotel deal and development news.
Hotel Asset Value Enhancement (HotelAVE) published their 4Q25 Hospitality Earnings: Key Insights & Highlights. hotelAVE reported: 1) 4Q25 U.S. RevPAR for public companies declined -0.2%; while REITs that have more luxury and upper upscale hotels averaged 2.1% 2) 2026 RevPAR growth guidance ranged from -2.0% to 4.0%. C-corps (especially those tied to the economy and midscale segments) are at the low end and REITs at the upper end of the range 3) Most of the public companies reported before the macro events in Iran and Mexico transpired at the end of February and elevated gas prices. These events will likely have negative forward implications on international inbound travel and favorable impact for U.S. leisure drive to markets 4) Leisure revenue increased globally in 4Q25; Hyatt, Marriott, and Hilton leisure revenue grew 6%, 4%, and 2.3%, respectively. Luxury transient RevPAR up 9% and 10% for Hyatt and HOST 5) 4Q25 business transient RevPAR change was -3% to -1% for the major o
