Issue 2567 - 5 November, 2020

    Record openings for Hyatt

    Hyatt recorded a net loss of USD161m for the third quarter, as systemwide revpar was down 72%. The company opened a record 27 hotels in the quarter, adding 4,300 rooms. Hotel performance improved in all regions, led by greater China and by select service hotels in the USA. At the end of September, the company [...]

    Expedia impresses

    OTA Expedia beat estimates with quarterly revenues of USD1.5bn, down 58%. Revenue per room night was up 14%, on a 58% decrease in nights stayed. The group’s Vrbo division contributed increased room nights, as travellers sought rural rental homes. CEO Peter Kern said efficiency gains have prepared Expedia to bounce back as the market revives. [...]

    Tough going for Host

    Host Hotels achieved breakeven or cash-positive operation at 22% of its hotels in September. Third quarter revenues were down 84.3% at USD198m, with a net loss of USD316m. The group ended the period with USD2.4bn of liquidity, having drawn down credit facilities. It has sold the Newport Beach Marriott Hotel & Spa, yielding USD216m. Read [...]

    Loss for Hilton

    Hilton declared a Q3 net loss of USD81m. The company said revpar was down an average 59.9% year on year. Occupancy in Asia Pacific improved to 53.1%, up 21% on the prior quarter. With 17,400 rooms signed during the quarter, the pipeline grew by 8% year on year. Read the full story here: