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2Q25 Hospitality Earnings: Key Insights & Highlights
1. 2Q25 U.S. RevPAR change for public companies averaged -0.2%. 50% of the companies that reported had RevPAR declines Y/Y 2. YE25 RevPAR growth guidance ranged from -0.3% to 1.8%; down slightly from -0.1% to 2.3% as reported in 1Q25. The average decrease was 14 bps at the low end and 50 bps at the high end 3. Macroeconomic uncertainty, lower inbound international travel, and weaker U.S. government travel remained the most cited reasons for reduced RevPAR projections 4. Leisure demand increased globally; Hyatt, Marriott, and Hilton reported leisure revenue changes of 2.6%, 3%, and 1%, respectively. Marriott reported softer leisure growth in the U.S. and Canada (only 1%) 5. 2Q25 business transient RevPAR change was -2% to 0% for the major operators. Hilton attributed the BT decline to the extended holiday schedule, government spending declines, weaker international inbound business, and macroeconomic uncertainty 6. Group revenue on the books (OTB) for YE25 is pacing in the low single digits vs STLY, and 2026 group revenue OTB is pacing up 4% to 12% vs STLY 7. 2Q25 EBITDA
margins declined by an average of 132 bps due to muted RevPAR growth
stemming from macroeconomic uncertainty, and above inflation wages and
benefits
![]() | Download the full summary to stay up-to-date: hotelAVE 2Q25 Hospitality Earnings Summary About hotelAVE hotelAVE’s team of professional advisors (www.hotelAVE.com) brings over 450 years of hotel real estate investment, operations, asset management and advisory experience to our clients. We work for the global “who’s who” of institutional real estate owners and lenders, and utilize our data-supported operational insights to proactively address challenges and enhance the value of their hospitality assets. Driven by our passion
to achieve outcomes that exceed expectations, we leverage our proprietary
database, careful research and a firm understanding of our client’s goals
to deliver innovative solutions, above-market results, and improved performance.
Founded in 2003 by Michelle
Russo, named one of Lodging Magazine’s most influential women
in hospitality, hotelAVE has grown into a 48-person team that seeks to
have a meaningful impact on every project and asset we work with. Since
inception, we have a track record of success and innovation, advising more
than 1,000 hotels and over $50 billion in hotel real estate across North
America, Latin America, and Europe.
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Previous Release: hotelAVE Hospitality Dashboard & Insights 2Q25 (08/12/25) |