Click through the links below for Hotel News Now's complete coverage of the fourth quarter 2021 earnings season for the hotel industry.
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On earnings calls with analysts, hotel company executives are expected to have a lot of positive things to say about leisure and even some group demand, but the timing and scope of the return of business travel continues to be a big question facing the industry.
During the company's fourth-quarter and full-year 2021 earnings call, MGM Resorts International executives spoke about continued strong performance and several high-priced real estate and operations deals that are near closing.
While the omicron variant was another disruption of the travel industry’s recovery, the overall effect it had was less severe than seen with past COVID-19 case surges, Expedia Group Vice Chairman and CEO Peter Kern said.
During his company’s fourth quarter earnings call, Kern said in a way, the disruption caused by the variant was encouraging, because many of the issues it caused were those of inconveniences. There were border shutdowns, and flights were canceled because flight crews got sick, but there was less consumer fear over traveling, he said.
During Marriott International's fourth quarter earnings call, CEO Tony Capuano said the company's performance is nearing 2019 levels but visibility remains somewhat limited as the booking window is still shorter than pre-pandemic levels.
Wyndham executives teased the launch of a new brand on the company's earnings call with analysts, while touting a development pipeline that is more robust than ever.
Hilton notched 5.6% net unit growth in 2021 and opened 67,000 rooms in the year, keeping growth consistent despite the regional ups and downs of COVID-19.
During Choice Hotels International's fourth quarter earnings call, President and CEO Patrick Pacious said the company exceeded pre-pandemic levels and is positioned for long-term success.
Hilton notched 5.6% net unit growth in 2021 and opened 67,000 rooms in the year, keeping growth consistent despite the regional ups and downs of COVID-19.
Hyatt Hotels Corp. executives said they're pleased with how Apple Leisure Group has performed since the November acquisition, despite confusion among investors over accounting changes.
Bethesda, Maryland-based DiamondRock Hospitality President and CEO Mark Brugger tells analysts on a fourth quarter and full-year earnings call the company has benefited from strong leisure demand in destination markets, where most of the portfolio is now based.
Park Hotels & Resorts executives remain bullish on the long term for meetings-focused hotels in major markets, projecting a large-scale rebound in group demand in 2022.
IHG Hotels & Resorts executives see increased investor appetite despite the pandemic and shifted investment and franchise development to its newer brands during 2021.
As a hotel owner in the select-service segment, Apple Hospitality REIT has stayed active in the transactions market throughout the pandemic, and that activity continued in the fourth quarter of 2021.
The Richmond, Virginia-based real estate investment trust has acquired 12 hotels for a total combined purchase price of approximately $473 million since March 2020, the beginning of the COVID-19 pandemic, according to its latest earnings release. In 2021, Apple Hospitality REIT acquired eight hotels for a total combined purchase price of approximately $361 million.
Most of Apple Hospitality REIT's asset disposition activity throughout the pandemic occurred during 2021. Throughout the year, the company sold 23 hotels in four transactions for a combined price of $235 million. The company ended 2021 with 219 owned hotels with a total of 28,747 rooms.
Executives at Pebblebrook Hotel Trust said they are feeling confident in the return of business travel this year and have major plans for renovating and repositioning hotels in their portfolio.
Speaking during the company's fourth quarter and full-year 2021 earnings call, officials with Sunstone Hotel Investors said a new chief executive could be in place within the next two months.
French hotel giant Accor's performance is being driven by expansion of its portfolio to reach new destinations and provide new experiences, executives said.
Real estate investment trust Summit Hotel Properties has closed on 26 of the 27 hotels involved in its $776.5 million acquisition of NewcrestImage's hotel portfolio.
Following a year of more sales than acquisitions, RLJ executives said the company expects to be a net acquirer in 2022.
While Service Properties Trust is in the midst of selling more than 60 hotels, company officials said the majority of those properties are being sold while maintaining long-term branding agreements with Sonesta International.
While leisure demand dominated most of 2021, groups and events began to pick up late in the year, leading many hoteliers to believe they're in for a wave of pent-up group demand this year while speaking during recent earnings calls.
Executives at publicly traded hotel companies and hospitality-focused real estate investment trusts share highlights of acquisitions and dispositions in the previous quarter and goals ahead.
Tracking Earnings Results
Hotel News Now's Earnings Tracker offers an overview of results in key performance metrics for select hotel companies and real estate investment trusts. The chart for this latest earnings season will be updated as companies report, and can be downloaded here.