In the fourth quarter of 2024, hotel companies expanded their development pipelines and posted RevPAR growth amid promising travel fundamentals. 

Hilton and Marriott International saw year-over-year global RevPAR gains in Q4, with both companies’ CEOs attributing their quarterly results to strong travel demand. Wyndham Hotels & Resorts, meanwhile, posted year-over-year U.S. RevPAR growth. 

All three companies, in addition to Hyatt Hotels, Choice Hotels International and IHG Hotels & Resorts, expanded their respective portfolios and pipelines in the quarter. Extended stay and upscale hotels drove Choice’s system-size growth in Q4, while conversions led Hilton’s openings for full-year 2024. 

Portfolio gains continued into 2025 for Hyatt and IHG, which added luxury and lifestyle rooms through new brand acquisitions.

In Las Vegas, specifically, group business drove results for MGM Resorts International, Wynn Resorts and Caesars Entertainment in Q4, though all three companies posted declines in the segment on tough comparables to F1’s inaugural Las Vegas Grand Prix in 2023. 

Below is a roundup of Hotel Dive’s coverage of top hotel companies’ fourth-quarter 2024 earnings results.