Select-service hotels excel in Q1 for Marriott, Wyndham

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Marriott International and Wyndham Worldwide each reported higher first-quarter earnings on higher demand for select-service properties.

Marriott’s first-quarter profit jumped 20% from a year earlier to $207 million. The company reported that revenue per available room (RevPAR) at North America hotels advanced 6.9%; select-service RevPAR rose 8.3%.

The Courtyard brand had a 9.4% increase in RevPAR, while Fairfield Inn and TownePlace Suites’ RevPAR numbers were each up more than 8%.

Overall revenue was $3.51 billion, a 6.7% increase, but the number lagged analysts’ average estimate of $3.59 billion. Marriott’s shares were down about 3% in Thursday morning trading.

Profit for Wyndham Worldwide’s lodging division rose 16%, to $79 million. The unit’s revenue jumped 23% from a year earlier, to $292 million. 

The division’s RevPAR rose about 2% on higher demand for Days Inn, Baymont and Microtel Inns. Demand growth was more tepid for the Wyndham, Super 8 and Ramada brands.

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