Vishnu Rageev R is a journalist with more than 15 years of experience in business journalism. Before joining Asian Media Group in 2022, he worked with BW Businessworld, IMAGES Group, exchange4media Group, DC Books, and Dhanam Publications in India. His coverage includes industry analysis, market trends and corporate developments, focusing on retail, real estate and hospitality. As a senior journalist with Asian Hospitality, he covers the U.S. hospitality industry. He is from Kerala, a state in South India.
HYATT HOTELS CORP. reported strong early 2024 performance, with RevPAR and revenue growth, fueled by pipeline expansion driving its core hotel business and global franchise network. Systemwide RevPAR surged by 5.5 percent compared to 2023, while all-inclusive resorts net package RevPAR soared by 11 percent.
Meanwhile, U.S. RevPAR increased by approximately 2 percent, excluding the Easter impact, indicating normalized growth.
Net rooms grew by about 5.5 percent, with net income at $522 million and adjusted net income at $75 million, Hyatt said in a statement. Adjusted EBITDA stood at $252 million, dropping by 9 percent compared to Q1 2023, mainly due to the Super Bowl in Phoenix, increased real estate taxes, higher wages, and transaction costs from ongoing asset sales.
"The year is off to a great start with gross fee revenue reaching a record of $262 million in the quarter,” said Mark Hoplamazian, Hyatt’s president and CEO. “Our pipeline also reached a new record, expanding 10 percent year-over-year to 129,000 rooms, and we realized net rooms growth of 5.5. World of Hyatt membership has grown by 22 percent, reaching a new record of 46 million members. Significant progress on asset dispositions is further expanding our asset-light earnings mix, reflecting our execution to permanently reduce owned real estate."
Hyatt reported that its pipeline included approximately 670 hotels with 129,000 rooms in the first quarter.
Additional first quarter highlights:
Repurchased around 2.5 million shares of Class A and Class B common stock for a total purchase price of $388 million.
Full-year comparable system-wide hotels RevPAR is forecasted to increase by 3 percent to 5 percent on a constant currency basis compared to 2023.
Full-year net income is projected to range between $1,135 million and $1,195 million.
Full-year adjusted EBITDA is estimated between $1,150 million and $1,190 million, aligning with the previously provided 2024 Outlook, adjusting for a $30 million reduction in Adjusted EBITDA due to transactions.
Full-year capital returns to shareholders are projected to range between $800 million and $850 million.
Future perfect
Hyatt also sold 80 percent of the entity owning the Unlimited Vacation Club business and closed the sale of Hyatt Regency Aruba Resort Spa and Casino, the statement added. As of May 9, 2024, the company earned $1.5 billion in gross proceeds from real estate dispositions, aiming for $2 billion by year-end 2024, net of acquisitions, as part of its expanded asset disposition commitment announced in August 2021.
Adjusted EBITDA for full-year 2024 remains consistent with the previous outlook, adjusted for a $30 million reduction due to transactions, including the sales of Park Hyatt Zurich, Hyatt Regency San Antonio Riverwalk, Hyatt Regency Green Bay, and the UVC Transaction, the statement said.
Free cash flow also aligns with the prior outlook, considering the $30 million reduction to adjusted EBITDA and $25 million cash tax payments associated with the asset sales, Hyatt added.
In February, Hyatt posted $26 million in fourth-quarter 2023 net income and $220 million for the year, driven by group demand recovery and rate growth across both customer segments.
Howard Johnson is marking its 100th anniversary with fried clam–shaped soaps.
The soaps pay homage to an iconic HoJo menu item.
Available at select hotels and for online purchase starting Oct. 3.
HOWARD JOHNSON BY Wyndham marks a century with one of its most famous menu items, the fried clam strip. The brand is introducing limited-edition HoJo’s Original Fried Clam Soap, available at select Howard Johnson hotels across the U.S. and for online purchase beginning Oct. 3.
Designed to resemble the original food item, the soaps are infused with lemon, sea salt and butter in a nod to the butter-soaked rolls that once accompanied the fried clams, according to a statement by Wyndham.
“Howard Johnson is a brand woven into America’s cultural fabric and beloved by millions for generations,” said Marissa Yoss, HoJo’s head of marketing. “As we celebrate 100 years, our limited-edition fried clam soap is a fun, nostalgic tribute to the brand’s storied past and a playful nod to the retro-modern, family-friendly spirit that continues defining our hotels today.”
For World Waffle Day celebrations, Comfort Hotels hosted a one-day Waffle Lounge in New York City on Aug. 21.
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More than 70 percent expect a RevPAR increase in Q4, according to HAMA survey.
Demand is the top concern, cited by 77.8 percent, up from 65 percent in spring.
Only 37 percent expect a U.S. recession in 2025, down from 49 percent earlier in the year.
MORE THAN 70 PERCENT of respondents to a Hospitality Asset Managers Association survey expect a 1 to 3 percent RevPAR increase in the fourth quarter. Demand is the top concern, cited by 77.8 percent of respondents, up from 65 percent in the spring survey.
HAMA’s “Fall 2025 Industry Outlook Survey” found that two-thirds of respondents are pursuing acquisitions, 80 percent plan renovations in the coming year and 57 percent are making or planning changes to brand affiliation or management strategies.
“With hopes high for a stronger fourth quarter, hotel asset managers continue to maintain an optimistic outlook,” said Chad Sorensen, HAMA president. “More than 70 percent of our members expect RevPAR to increase 1 to 3 percent and two-thirds are pursuing acquisitions. With 80 percent planning renovations in the coming year, we see an engaged community focused on performance.”
Conducted among 81 HAMA members, about one-third of the association, the survey reports expectations for revenue growth, property investments and acquisitions.
However, the top three most concerning issues were demand, ADR growth and tariffs, HAMA said.
RevPAR growth forecast
Looking into 2026, 72.8 percent expect 1 to 3 percent growth, 18.5 percent expect 4 to 6 percent, 7.4 percent anticipate flat results and 1.2 percent project a decline. Full-year RevPAR projections versus budget are more mixed: 49 percent expect 1 to 3 percent growth, 17 percent expect flat results, 12 percent expect 4 to 6 percent growth, 2 percent expect 7 percent or more and 19 percent expect declines.
Hotel asset managers note several market pressures, the report said. Other concerns include ADR growth at 51.9 percent, tariffs at 34.6 percent, wage increases at 33.3 percent and potential Federal Reserve rate changes at 32.1 percent. Management company performance at 25.9 percent, immigration and labor trends, union activity and insurance costs were also mentioned.
“The industry is at its highest level of concern around maintaining or increasing rates,” Sorensen said. “There’s pressure to build on the P&L going into 2026.”
Performance projections
Confidence in the broader economy has increased since spring, the survey found. Only 37 percent of respondents expect a U.S. recession in 2025, down from 49 percent earlier in the year.
When asked about properties exceeding gross operating profit forecasts, 59 percent of managers expect 0 to 25 percent of their hotels to surpass targets, 25 percent expect 26 to 50 percent, 10 percent expect 51 to 75 percent and 6 percent expect 76 to 100 percent. Additionally, 20 percent reported returning hotels to lenders or entering forced sales since the spring survey.
Peachtree launched new DST with 131,040‑square foot industrial facility in Mansfield, Texas.
The property was acquired at $180 per square foot.
Peachtree completed $320M in debt-free transactions across multiple markets since 2022.
PEACHTREE GROUP LAUNCHED its latest Delaware Statutory Trust with the acquisition of a newly built 131,040-square-foot industrial facility in Mansfield, Texas. The company has completed about $320 million in debt-free transactions since launching its DST program in 2022, according to its statement.
The rear-load building, completed in 2025, features 36-foot clear heights, a three-acre outdoor storage yard and room for future expansion. The property was acquired for $180 per square foot, below market comparables, and is fully leased to Ferguson, a distributor for professional contractors in North America, Peachtree said in a statement.
“In today's higher-rate environment, where tighter credit and volatile valuations challenge traditional ownership, DSTs have emerged as a compelling alternative,” said Greg Friedman, Peachtree’s managing principal and CEO. “They deliver attractive cash flows backed by institutional-quality assets, while also offering tax advantages, professional management and diversification.”
Ferguson signed a 10-year corporate lease beginning in March, with 3 percent annual rent escalations, two five-year extension options and limited landlord obligations, the statement said. With investment-grade credit ratings from S&P BBB+ and Moody’s Baa1, the tenant supports the trust’s income stability and risk profile.
Peachtree’s DSTs, Opportunity Zones and REIT structures form a platform aimed at tax efficiency, compounding benefits and risk-adjusted returns, supported by Peachtree’s integrated asset management.
“Expanding into the industrial sector is a step toward building a diversified DST platform that can perform across cycles,” said Tim Witt, Peachtree’s president of 1031 Exchange and DST Products. “DSTs turn a looming tax bill into compounding wealth, keeping money in commercial real estate, but their true strength is pairing tax efficiency with investments that stand on their own merits.”
Atlanta-based Peachtree is led by Friedman; managing principal and CFO Jatin Desai and principal Mitul Patel. In July, Peachtree added the 128-key SpringHill Suites Phoenix West Avondale in Arizona as its ninth Delaware Statutory Trust offering since launching the program in 2022.
House introduces AFA to boost franchise model and hotel operations.
The act establishes a joint employer standard.
AHLA backs the bill, urging swift adoption.
THE HOUSE Of Representatives introduced the American Franchise Act, aimed at supporting the U.S. franchising sector, including 36,000 franchised hotels and 3 million workers nationwide. The American Hotel & Lodging Association, backed the bill, urging swift adoption to boost the franchise model and clarify joint employer standards.
The AFA amends the Fair Labor Standards Act and the National Labor Relations Act, which since 2015 have created uncertainty for franchisors and franchisees, AHLA said in a statement.
Rep. Kevin Hern (R-Oklahoma) and Don Davis (D-North Carolina) introduced the AFA.
“Hotel franchising is a pathway to the American Dream for many entrepreneurs,” said Rosanna Maietta, AHLA president and CEO. “It is a proven win-win business model that enables partnerships between franchisees and franchisors. The American Franchise Act codifies a clear joint employer definition and is essential to protecting this framework.”
AFA aims to protect the franchise model, which has long enabled women and minority entrepreneurs to run their own businesses with support from larger brands, the statement said. It will clarify the employment relationship by establishing a joint employer standard that protects workers and preserves franchisee autonomy.
Mitch Patel, AHLA board chair and Vision Hospitality Group CEO, said that as a hotel franchisee, he has seen how the model enabled him and others to achieve the American Dream.
“Throughout my career, my hotel business has employed thousands of people who have built lifelong careers in our industry,” he said. “The American Franchise Act is essential to preserving this foundation. For the benefit of both employers and employees, we strongly encourage the swift passage of this critical legislation.”
"As one of the few franchisees in Congress, I understand how damaging an ever-changing joint-employer rule is to the franchise business model,” said Hern. “I'm pleased that we were able to come together in a bipartisan effort to create legislation that safeguards small businesses and individuals working to achieve the American Dream across the country."
Davis said changes to joint-employer rules have created prolonged uncertainty in the industry.
“The American Franchise Act aims to restore stability by clarifying that franchisors and franchisees operate as independent employers while safeguarding workers through established labor standards,” he said.
Separately, a petition for a referendum on Los Angeles’s “Olympic Wage” ordinance, which sets a $30 minimum wage for hospitality workers by the 2028 Games, fell short of signatures. The ordinance will take effect, raising hotel wages from $22.50 to $25 next year, $27.50 in 2027 and $30 in 2028.
Noble broke ground on StudioRes Mobile Alabama at McGowin Park.
The 10th StudioRes expands Noble’s long-term accommodations platform.
Noble recently acquired 16 WoodSpring Suites properties through two portfolio transactions.
NOBLE INVESTMENT GROUP broke ground on StudioRes Mobile Alabama at McGowin Park, a retail center in Mobile, Alabama. It is Noble’s 10th property under Marriott International’s extended stay StudioRes brand.
“Noble is institutionalizing one of the most resilient and undersupplied segments at the intersection of hospitality, mobility and how people stay,” said Shah. “We are scaling a branded platform to capture secular demand that creates stable cash flow and long-term value.”
In May, Noble acquired 16 WoodSpring Suites properties through two portfolio transactions, expanding its platform in branded long-term accommodations.
Noah Silverman, Marriott International’s global development officer, U.S. & Canada, said breaking ground on the 10th StudioRes with Noble reflects the brand’s growth and the companies’ three-decade partnership.
“With both companies’ expertise in long-term accommodations, Marriott’s distribution channels, and the power of our nearly 248 million Marriott Bonvoy members, we are confident StudioRes is uniquely positioned to generate customer demand at scale, drive performance and sustain long-term growth,” he said.
Meanwhile, Marriott has more than 50 signed StudioRes projects, about half under construction, the statement said. The first StudioRes opened in Fort Myers, Florida.