Comparable hotel Total RevPAR was $367.54 for the second quarter and $366.74 year-to-date, representing an increase of 3.8% and 16.9%, respectively, compared to the same periods in 2022.
System-Wide RevPAR Expanded 15% Generating Record Total Fee Revenue - Net Rooms Growth Increased to 6.9%
Comparable RevPAR for all hotels increased 6.7% to $144.25 during the quarter on a 3.8% increase in Comparable ADR and a 2.8% increase in Comparable Occupancy.
Comparable RevPAR for all hotels decreased 4.2% over the prior year quarter to $309. Comparable ADR decreased 5.2% over the prior year quarter to $436 and Comparable Occupancy increased 1.0% over the prior year quarter to 70.9%.
RevPAR Beats Industry Performance for Fifth Consecutive Quarter
GAAP net revenues of $2.9 billion versus $2.8 billion for the comparable prior-year period.
Second quarter 2023 comparable systemwide constant dollar RevPAR increased 13.5 percent worldwide, 6.0 percent in the U.S. & Canada, and 39.1 percent in international markets, compared to the 2022 second quarter
REVENUE AT INR 1,516 CRORES, UP 17% YoY
On a comparable basis, fee-related and other revenues increased 5% year-over-year primarily reflecting higher royalties and franchise fees resulting from global RevPAR and system growth.
Solid activity growth - Raised full-year guidance - Demand expected to remain strong for the coming months