Management remarks
Call period: 2026 Q2 · 2026-07-28
Guidance: Christopher J. Nassetta: Given this momentum, we are raising our full-year system-wide RevPAR growth expectations to 3% to 3.5% with third quarter above our full-year range benefiting from the World Cup and holiday shifts and fourth quarter a bit below due to calendar shifts and midterm elections.Demand and orders: Christopher J. Nassetta: Leisure transient RevPAR was up 1.6%, supported by World Cup demand exceeding expectations, but offset by unfavorable holiday shifts and pressure from the conflict in the Middle East.Margins: Christopher J. Nassetta: And the combination of those things is, you know, somewhere between 75 and 100 basis points in margin for owners.Analyst Q&A
Analyst Brandt Montour asked: I was hoping, maybe, Kevin, if you could talk a little bit about the EBITDA guidance that you guys gave you beat the Q2 guide by a healthy figure and did not flow through all of that to the full-year EBITDA guidance in the midpoint. Just wondering if there is anything to call out there or just general conservatism? Management Kevin J. Jacobs answered: And the increase in our guidance is flowing through for the full-year the way you would have expected it. what is really going on over the course of the year, if you think about the midpoint of our guidance being close to 9% growth, you have got, we mentioned it, a pretty significant drag in the ownership segment, right? We have three hotels, three major hotels. And if you think about if you take a step back in not to go on a full rant about that segment. But if you go back in time, we had about 100 hotels.管理层陈述
电话会期间：2026 Q2 · 2026-07-28
指引：克里斯托弗·J·纳塞塔：鉴于这一增长势头，我们将全年系统范围内每可售客房收入增长率预期上调至3%至3.5%；第三季度受世界杯和假期时段调整影响，增速高于全年区间，第四季度受日历时段调整和中期选举影响，增速略低于区间。需求与订单：克里斯托弗·J·纳塞塔：休闲散客每可售客房收入增长1.6%，得益于世界杯需求超出预期，但被不利的假期时段调整以及中东冲突带来的压力所抵消。利润率：克里斯托弗·J·纳塞塔：上述因素综合起来，将为业主带来75至100个基点的利润率提升。分析师问答
分析师布兰德·蒙图尔向凯文提问：你们第二季度业绩远超指引，但未将全部超额收益计入全年EBITDA指引中点，请问这有特殊原因还是仅为保守态度？管理层凯文·J·雅各布斯回应称，全年指引的上调符合预期，指引中点对应近9%的增长，但直营酒店板块存在显著拖累：目前仅3家主要直营酒店，此前该板块曾有约100家酒店。This earnings research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报研究基于公司业绩公告、监管文件、财务报表，以及财报电话会议记录或官方回放整理。内容仅供参考，不构成投资建议。
