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American, arise, Astoria, banking, Canada, Canopy, China, collected, Collection, comparison, Conrad, consolidate, Curio, discount, DoubleTree, easing, Embassy, entity, exceeded, excise, favorable, gain, Garden, government, half, Hampton, heightened, Homewood, impacted, imposed, Inn, intervene, June, lack, liquidation, LXR, Motto, nationally, obligate, Omicron, pandemic, recovery, regular, remeasurement, resumed, showed, Signia, Spark, stability, strategically, strong, Tapestry, Tempo, Tru, unrecognized, variant, Waldorf, world
Financial report summary
?Competition
Marcus • Choice Hotels International • Marriott International, Inc. - Ordinary Shares • Accor • Travel+Leisure • Hyatt Hotels Corporation - Ordinary Shares • Marriott Vacations WorldwideManagement Discussion
- System-wide RevPAR increased during the three months ended March 31, 2024, primarily due to an increase in ADR in all regions, which included the impact of inflation, and increases in occupancy across international regions. The decrease in RevPAR in the U.S. was driven by challenging comparisons due to weather and timing of holidays. The Americas region, excluding the U.S., saw improvement resulting from an increase in inbound leisure travel in Mexico and the Caribbean and Latin America. The RevPAR increase in Europe was driven by continued growth in international travel. Both MEA and Asia Pacific benefited from increased holiday travel, conferences and special events in the regions.
- (1)Amount includes losses recognized related to equity and debt financing that we had previously provided to an unconsolidated affiliate with underlying investments in certain hotels that we manage or franchise; refer to Note 5: "Loss on Investments in Unconsolidated Affiliate" in our unaudited condensed consolidated financial statements for additional information.
- (2)Amount includes losses on debt guarantees for certain hotels that we manage; refer to Note 13: "Commitments and Contingencies" in our unaudited condensed consolidated financial statements for additional information.