• Outlooks lowered

Hilton, Wyndham and Hyatt all reported positive full year results, lifted by European and Asian properties. Outlook for 2019 is for more modest US growth, with overall revpar improvement of 1-3% expected.

Wyndham revenues were boosted by its La Quinta acquisition, while Hyatt revenues declined due to USD1bn of asset sales. Hilton’s unit growth of 7% drove revenues higher than guidance figures.

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