Shares from the hospitality sector came under pressure Wednesday after Hilton Worldwide Holdings Inc (NYSE:
HLT) provided a downbeat earnings forecast for the fourth
quarter following a sales
miss in the third quarter. Two other companies have also offered downbeat outlooks.
On back of the lackluster prints and ahead of the remaining releases, the sector is experiencing investor
pressure.
Hilton's Q3
- The company reported EPS of $0.23 on revenue of $2.94
billion for the third quarter. While EPS came in line with estimates, revenue fell shy by $0.06 billion.
- Expects adjusted EPS of $0.20–$0.23 for the fourth quarter, while analysts predict $0.24.
- Sees system-wide RevPAR to be flat to up 1.0 percent on comparable and currency neutral basis in the fourth quarter.
- For the year 2017, the company expects RevPAR to grow 1–3 percent.
Peers In The Space
Wyndham Worldwide Corporation (NYSE: WYN)
reported adjusted EPS of $1.89 on revenue of $1.6 billion. While EPS beats by $0.02, revenue is in line with expectations. The
company expects to deliver adjusted EPS of $5.68–$5.71 on revenues of $5.65 billion in the full year. While EPS is below analysts'
estimate of $5.73, revenue is in line.
Marriott Vacations Worldwide Corp (NYSE: VAC) reported adjusted EPS of $0.96 on revenue of $406.99 million. The
company narrowed its EPS forecast from $4.43–$4.78 to $4.55–$4.65 for the full year.
4 Peers Left To Report
The following four companies have yet to report:
-
Choice Hotels International Inc (NYSE: CHH) is scheduled to announce its results on Thursday. Analysts are looking for an
EPS of $0.79 on revenue of $252.73 million.
-
La Quinta Holdings Inc (NYSE: LQ) is slated
to disclose its results on November 2. Analysts expect EPS of $0.19 on revenues of $267.50 million.
-
Hyatt Hotels Corporation (NYSE: H) will
announce its results on November 3. The Street is looking for an EPS of $0.29 on revenue of $1.11 billion.
-
Marriott International Inc (NASDAQ: MAR)
is scheduled to release its results on November 7. Analysts expect EPS of $0.89 on revenue of $4.2 billion.
At Last Check ...
- Choice Hotels was down 1.23 percent at $44.30.
- Hilton was down 1.8 percent at $22.32.
- Hyatt was down 2.15 percent at $48.75.
- La Quinta was down 2.02 percent at $10.18.
- Marriott International was down 0.51 percent at $66.86.
- Marriott Vacations was down 2.37 percent at $62.73.
- Wyndham was down 5.38 percent at $64.18.
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