The Bottom Line on Hotel Bottom Lines So Far
Skift Take
Overall, analysts at investment banks like what they're hearing from public hotel companies about their financial performance in the near term. But some are revising downward their forecasts for growth in 2024, given worries about the impact of economic storms.
Early Check-In
Editor’s Note: Skift Senior Hospitality Editor Sean O’Neill brings readers exclusive reporting and insights into hotel deals and development, and how those trends are making an impact across the travel industry.I offered last week my own themes for earnings season. This week, here are what the pros are saying, in a survey of recent reports issued by investment bank analysts about large public hotel companies.
Hotel pipelines
IHG: "Net system growth remains behind initial expectations [2.6 percent, year-over-year], which is not a surprise but raises further concerns into fiscal year 2023, where expectations for IHG are to grow in line with industry leaders by about 5 percent," wrote Estelle Weingrod for J.P.Morgan Cazenove. The analyst believes IHG can still meet its target next year, thanks partly to delayed openings in China that should roll over year and given that overall its conversion brands are performing well.Wyndham: Before earnings began, Truist's Patrick Scholes met with Wyndham's management. Scholes called out in a report that the company has "additional opportunities for tuck-in acquisitions"
