A strong first quarter to start the year left hotel companies broadly optimistic as executives made widespread increases to full-year 2023 revenue per available room projections.
Here are some of the highlights from quarterly earnings calls highlighting the source of that optimism for the remainder of the year.
Wyndham Hotels & Resorts Chief Financial Officer Michele Allen
“We’re updating our full-year 2023 outlook to reflect first quarter favorability as well as a lower share count due to our first quarter repurchase activity. Fee-related and other revenue increases by $4 million from February’s outlook and still rounds to $1.38 billion to $1.41 billion. Adjusted [earnings before interest, taxes, depreciation and amortization] increased $4 million as well and is now projected to be $654 million to $664 million.