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☆ Sluggish return of business travelers forces US airlines to rejig their networks
▼ + stars: | 2023-08-03 | by ( Rajesh Kumar Singh | ) www.reuters.com time to read: +5 min

Before the pandemic hit in 2020, corporate travel was the travel industry's cash cow. Investors in travel companies are concerned that the spending from vacationers cannot make up the shortfall. For months, Alaska Air's (ALK.N) business bookings have been 25% below pre-pandemic levels. JetBlue Airways (JBLU.O) said on Tuesday it will redeploy capacity away from New York to high-margin leisure destinations with business travel demand 20% below pre-pandemic levels. Recent passenger screening and fare data shows U.S. travel demand has peaked, hurting the carriers' pricing power.

Persons: Ronald Reagan, Kevin Lamarque, Shane Tackett, Bob Jordan, Kevin Kopelman, Luis Gallego, JPMorgan Chase, Goldman Sachs, Morgan Stanley, Rajesh Kumar Singh, Doyinsola Oladipo, Sarah Young, Joanna Plucinska, David Gaffen, Matthew Lewis Organizations: Ronald Reagan Washington National Airport, REUTERS, U.S, Investors, Airlines for America, Reuters, JetBlue Airways, Southwest Airlines, Marriott, MasterCard, Delta Air Lines, American Airlines, NYSE, Cowen, British Airways, IAG, Google, JPMorgan, Thomson Locations: Ronald Reagan Washington, Arlington , Virginia, U.S, Alaska, Seattle, Mexico, Costa Rica, California, New York, Asia, Pacific, Europe, Chicago, London

The logo of the company Royal Caribbean is seen on the 'Wonder of the Seas' cruise ship, the world’s largest cruise ship, docked at a port in Malaga, southern Spain, April 30, 2022. Cruise operators lowered prices to lure passengers onboard following the pandemic, banking on onboard spending that has now reached record levels. Onboard spending in the second quarter rose 49.9% for Norwegian Cruise Lines (NCLH.N), compared with the same period in 2019, before the pandemic. Onboard spending rose about 36.8% for Royal Caribbean Cruises and 17.2% for Carnival in the same period. Carnival and Royal Caribbean said the percentage of guests who were new to cruising surpassed 2019 levels.

Persons: Jon Nazca, Patrick Scholes, Josh Weinstein, Bob Levinstein, Cruise, Carnival's Weinstein, Jason Liberty, Brandt Montour, Granth, Anil D'Silva Organizations: Royal, REUTERS, Royal Caribbean Cruises, Carnival Corp, Carnival, Cruise, Norwegian Cruise Lines, DISNEY WORLD, Walt Disney, Custom Travel, Reuters Graphics, Cruise Lines International, . Carnival, Barclays, Thomson Locations: Royal Caribbean, Malaga, Spain, U.S, Caribbean, Orlando , Florida, They've, Bengaluru, Doyinsola, New York

July 27 (Reuters) - Royal Caribbean Group (RCL.N) raised its full-year profit forecast on Thursday, betting on higher ticket prices and resilient demand for leisure travel from affluent customers, sending shares surging. Royal Caribbean's shares were up 8.1% at $109.01 in premarket trading as it also forecast third-quarter adjusted profit above estimates. The company expects an adjusted profit between $3.38 and $3.48 per share in the third quarter, compared with estimates of $2.89 per share. Royal Caribbean expects annual adjusted profit between $6.00 and $6.20 per share, compared with its earlier forecast of $4.40 to $4.80 per share. Shares of rival operators Carnival Corp and Norwegian Cruise Line Holdings rallied in tandem following Royal Caribbean's results, gaining 5.2% and 4.7%, respectively.

Persons: Caribbean's, Jason Liberty, Granth, Shounak Dasgupta Organizations: Royal Caribbean Group, Royal Caribbean, Carnival Corp, Cruise Line Holdings, Thomson Locations: Royal Caribbean, Bengaluru

☆ Walmart teams up with Expedia on travel perks
▼ + stars: | 2023-07-25 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +2 min

NEW YORK, July 25 (Reuters) - Retail giant Walmart (WMT.N) on Tuesday said it is teaming up with online travel agency Expedia Group (EXPE.O) to offer its subscription service members travel benefits for the first time as retailers increase service offerings to offset a slowing in spending on goods. "We're bringing together the ultimate savings membership and vacation booking site to deliver a first-ever travel-focused benefit for Walmart+ members," said Venessa Yates, senior vice president and general manager of Walmart+, the retailer's subscription service. Walmart+ members will be able to book travel on a Walmart travel website powered by Expedia and earn Walmart cash rewards. Walmart also partnered with veterinary telehealth provider Pawp in May to offer Walmart+ subscribers free access to virtual veterinarians for a year. Amazon.com (AMZN.O) partnered with travel booking site Priceline, owned by Booking Holdings, in July to offer discounts for Prime Day, the first time an online travel agency participated in the event.

Persons: Venessa Yates, Morgan Stanley, Doyinsola Oladipo, Siddharth Cavale, Sandra Maler Organizations: YORK, Retail, Walmart, Expedia, Amazon, Pawp, Booking Holdings, Thomson Locations: New York

☆ Wall St sees bargains and lure of Europe buoying cruise, hotel earnings
▼ + stars: | 2023-07-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +4 min

Passenger ticket and onboard spending revenue is expected to increase 66% and 36%, respectively. Cabin bookings in the second quarter were up 58% compared to this time last year. For Carnival, booking volumes in the second quarter were 17% higher than in 2019, Carnival CEO Josh Weinstein told investors in June. Meanwhile, investors will be watching if record nightly rates for on-shore accommodations can offset revenue in the second quarter. Hotel and short-term rental rates were about 18% and 35% more expensive in the second quarter than in 2019, according to analytics firms CoStar and AirDNA.

Persons: Brandt Montour, McKinsey, Sylvia Jablonski, Patrick Scholes, Josh Weinstein, AirDNA, Hilton, Doyinsola Oladipo, Granth, Susan Heavey Organizations: YORK, Investors, Hilton Worldwide Holdings, Royal Caribbean Cruises, Barclays, Royal, Carnival Corp, Cruise Line Holdings, Airlines, Cruises, Cruise, Truist Securities, Thomson Locations: Europe, United States, AirDNA . U.S, Asia, New York, Bangalore

☆ Las Vegas Sands 2nd qtr revenue beats Wall Street estimates
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: 1 min

NEW YORK, July 19 (Reuters) - Las Vegas Sands Corp (LVS.N) on Wednesday reported second quarter revenue of $2.5 billion, beating Wall Street estimates. The Las Vegas-based casino operator said earnings are benefiting from a return to normalcy in Macao after a delayed rebound in tourism due to China's zero-COVID policy. "We were pleased to see the robust recovery in travel and tourism spending underway in both Macao and Singapore progress during the quarter," Robert Goldstein, Las Vegas Sands' chief executive officer said in a statement. Reporting by Doyinsola Oladipo in New York; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Robert Goldstein, Doyinsola Oladipo, Chris Reese Organizations: YORK, Vegas Sands Corp, Wall, Las, Las Vegas Sands, Thomson Locations: Vegas, Macao, Singapore, Las Vegas, New York

☆ Marriott enters licensing deal with MGM to boost presence in Las Vegas strip
▼ + stars: | 2023-07-17 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +2 min

[1/3] Logo of Marriott hotel is seen in Vienna, Austria April 9, 2018. REUTERS/Heinz-Peter Bader/File Photo/File PhotoJuly 17 (Reuters) - Marriott International (MAR.O) said on Monday it entered a 20-year licensing agreement that will allow its loyalty members to earn and redeem existing points for booking stays at MGM Resorts International's (MGM.N) properties. The pair launched "MGM Collection with Marriott Bonvoy," which will allow members of the Marriott Bonvoy rewards program to earn and redeem points for stays at 17 MGM resorts across the United States and Canada. MGM's 40 million members will gain access to the Bonvoy loyalty program. Marriott will earn fees on total room revenue on the MGM Resorts that are part of the agreement, Marriott CEO Anthony Capuano said.

Persons: Heinz, Peter Bader, Marriott, Kate Xiao, Bill Hornbuckle, Bernstein's Xiao, Anthony Capuano, Barry Jonas, Aishwarya Nair, Shweta Agarwal, Will Dunham Organizations: REUTERS, Marriott, MGM Resorts, MGM, Cosmopolitan, Bernstein Hotels, Reuters, Truist Securities, Thomson Locations: Vienna, Austria, United States, Canada, Las Vegas, Marriott's, Bengaluru, Doyinsola, New York

☆ Amazon partners with travel site Priceline in a first for Prime Day
▼ + stars: | 2023-07-10 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +2 min

NEW YORK, July 10 (Reuters) - Amazon.com Inc (AMZN.O) is partnering with travel booking site Priceline to offer discounts during Tuesday's Prime Day, the first time an online travel agency has participated in the shopping event. Priceline is the first travel brand to offer an exclusive U.S. Prime Day deal, Amazon said. We know travelers are shopping on Amazon and booking travel with Priceline," said Lesley Klein, senior vice president of marketing at Priceline. Booking Holdings has several sites, so this isn't the first time the company has worked with Amazon on Prime deals. Amazon several years ago attempted to build a hotel booking service called Amazon Destinations but it closed a few months after launching.

Persons: Priceline, Lesley Klein, Booking.com, Doyinsola Oladipo, Jeffrey Dastin, David Gregorio Our Organizations: YORK, Amazon.com Inc, Tuesday's, Priceline's, Express, Booking Holdings, Prime, Amazon, Tourism, U.S . Travel Association, Thomson Locations: U.S, Germany, Austria, New York, San Francisco

[1/8] Delayed travelers wait for air traffic to resume at Ronald Reagan Washington National Airport ahead of the July 4th holiday weekend in Arlington, Virginia, U.S., June 30, 2023. The AAA estimates do not include Thursday, June 29, which the Federal Aviation Administration expects to be the busiest day of air travel during the holiday weekend. United Airlines (UAL.O) bore the brunt of the disruptions, with about 19% of its scheduled flights canceled and about 47% delayed. In a staff memo, he said over 150,000 United customers were affected last weekend because of FAA staffing issues and its impact on managing traffic. Still, the airline has said it would be "on track" to restore operations for the holiday weekend when it expects 5 million people to fly with it.

Persons: Ronald Reagan, Evelyn Hockstein NEW, Pete Buttigieg, Buttigieg, Scott Kirby, Doyinsola Oladipo, Rajesh Kumar Singh, Deepa Babington, Jonathan Oatis Organizations: Ronald Reagan Washington National Airport, REUTERS, AAA, Federal Aviation Administration, U.S . Transportation Security Administration, FAA, U.S ., United Airlines, Twitter, . Transportation, CNN, United, American Airlines, Thomson Locations: Ronald Reagan Washington, Arlington , Virginia, U.S, United States, Washington, U.S . East Coast, Chicago, FlightAware, New York

The AAA estimates do not include Thursday, June 29th, which the Federal Aviation Administration expects to be the busiest day of air travel during the holiday. United Airlines (UAL.O) bore the brunt of the disruptions, with about 19% of its scheduled flights canceled and about 47% delayed. The disruptions have left passengers fuming, with many United customers venting frustration on social media about long lines, delays in rebooking flights and misplaced luggage. In a staff memo, he said over 150,000 United customers were affected last weekend because of FAA staffing issues and its impact on managing traffic. American Airlines (AAL.O) expects nearly three million customers from Friday, June 30, through Tuesday, July 4, across more than 26,000 scheduled flights.

Persons: Pete Buttigieg, Buttigieg, Scott Kirby, Doyinsola Oladipo, Rajesh Kumar Singh, Deepa Babington Organizations: YORK, AAA, Federal Aviation Administration, FAA, Washington D.C, U.S ., United Airlines, Twitter, . Transportation, CNN, United, American Airlines, Thomson Locations: U.S, Washington, U.S . East Coast, Chicago, FlightAware, New York

CompaniesCompanies Law Firms Airbnb Inc FollowNEW YORK, June 12 (Reuters) - The City of New York will delay enforcing a new municipal law that Airbnb Inc (ABNB.O) said could limit the number of people who can host rentals in the city, a Friday court filing showed. Under the law, hosts must be permanent occupants of the units being rented and must register with the Mayor's Office of Special Enforcement (OSE) before posting rentals. The office of New York City Mayor Eric Adams did not immediately respond to a request for comment. Airbnb said that in the first week of July, more than 5,500 short-term rentals are reserved to host more than 10,000 guests in New York City. The case is Airbnb Inc. v New York City Mayor's Office of Special Enforcement in New York State Supreme Court in Manhattan.

Persons: Eric Adams, Airbnb, Karen Dunn, Paul, Weiss, Doyinsola Oladipo, Richard Chang Organizations: Airbnb, Mayor's, Special Enforcement, New York City, Inc, New York, New York City Mayor's Office, Enforcement, Court, Thomson Locations: New York, New York City, Manhattan

☆ US, European hotel rates may keep rising, industry executives say
▼ + stars: | 2023-06-07 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +2 min

NEW YORK, June 7 (Reuters) - Hotel room rates in the U.S. and Europe are rising and may get even more expensive as supply has failed to keep up with demand, industry executives said. The number of U.S. hotel rooms increased about 3% in April of 2023 from the same month in 2019. Some 153,000 hotel rooms were under construction in April of 2023, down from a peak of 220,000 in the same month in 2020, according to hotel analytics firm STR. U.S. hotel rates in May averaged $157.45 a night, up 17% from the same month in 2019. "For the past 20 years hotel operators were not daring enough to restate the prices of hotel rooms," he said.

Persons: Keith Barr, Barr, It's, Mark Hoplamazian, Michael Tran, Sebastien Bazin, Bazin, There's, IHG's Barr, Doyinsola Oladipo, Richard Chang, Paul Simao Organizations: YORK, Resorts, NYU International Hospitality Industry Investment Conference, RBC Capital Markets, Thomson Locations: U.S, Europe, Paris, London, New York

☆ US, European hotel room rates could keep rising - industry executives
▼ + stars: | 2023-06-07 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +2 min

NEW YORK, June 7 (Reuters) - Hotel room rates in the U.S. and Europe are rising and may get even more expensive as supply has failed to keep up with demand, industry executives said. Some 153,000 hotel rooms were under construction in April, down from a peak of 220,000 in the same month in 2020, according to hotel analytics firm STR. U.S. hotel rates in May averaged $157.45 a night, up 17% from 2019. "For the past 20 years hotel operators were not daring enough to restate the prices of hotel rooms," he said. Bazin said Paris hotel prices in the past six months cost 50% more than in 2019, while prices in London rose 30% over the same period.

Persons: Keith Barr, It's, Barr, Mark Hoplamazian, Sébastien Bazin, Bazin, There's, IHG's Barr, Doyinsola Oladipo, Richard Chang Organizations: YORK, Resorts, NYU International Hospitality Industry Investment Conference, U.S, Hotels, Thomson Locations: U.S, Europe, Paris, London, New York

City councils around the United States are increasingly introducing ordinances to regulate short-term rentals, which in some cases will require hosts to obtain licenses and pay registration fees or limit the number of short-term rentals in business districts. The short-term rental company is requesting that the court blocks the enforcement of "Local Law 18". Airbnb said that in the first week of July, more than 5,500 short-term rentals are reserved to host more than 10,000 guests in New York City. The company said in the filing a previous law which went into effect in 2021 prompted 29,000 hosts to leave the short-term rental market in New York. Airbnb’s annual net revenue in New York City in 2022 was $85 million, according to the filling.

Persons: Airbnb, Doyinsola Oladipo Organizations: Airbnb, New York, New, New York City Mayor's Office, Special Enforcement, Thomson Locations: New York City, City, United States, New York's, New York

☆ How Americans plan to travel this Memorial Day
▼ + stars: | 2023-05-26 | by ( ) www.reuters.com time to read: +2 min

May 26 (Reuters) - The upcoming Memorial Day weekend is expected to see millions of Americans travel despite tight budgets, kicking off the busy summer travel in the U.S on a high note. Here's how the Memorial Day travel might look like:ROADTRIPS** Cheaper gas is pushing more Americans to consider road travel as an alternative. ** About 37.1 million Americans are expected to drive down to their destinations this Memorial Day, a 6% increase compared to 2022, according to data from travel group AAA. ** Car rental prices are down 17% compared to Memorial Day Weekend last year, travel booking website Hopper says. FLIGHTS** 3.4 million travelers are expected to take a flight for the upcoming Memorial Day weekend, an 11% increase year-over-year - AAA.

☆ House swaps and dog walks: Travelers find cheaper alternatives to lodging
▼ + stars: | 2023-05-22 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +4 min

About one night in a hotel, along with the time she spent walking dogs, watering plants and changing litter boxes. Some are taking road trips instead of flying or booking a budget hotel room. Travelers in March booked 21 million short-term rental nights, the highest number of future nights booked on record, according to AirDNA. MORE TRAVELERS ON A BUDGETU.S. travel companies have taken notice, beefing up economy-level options to draw in growing numbers of cost-conscious travelers. Hotel operator Hilton (HLT.N) in January announced a new economy hotel brand, Spark, aimed at budget travelers and told investors in April it was working on a lower-end extended stay brand.

Companies Hyatt Hotels Corp FollowNEW YORK, May 16 (Reuters) - Texas Attorney General Ken Paxton filed a lawsuit on Monday against Hyatt Hotels Corp (H.N) for allegedly violating Texas consumer protection laws by misleading consumers with marketing and charging hidden fees. In a petition filed in district court, Paxton said U.S.-based Hyatt did not include mandatory fees in advertised room rates to stop comparison shopping, amounting to millions of dollars in fraudulent charges. "I will not stand by while Texas consumers are taken advantage of by Hyatt, or by any hotel chain that tries to get away with charging illegal hidden fees," Paxton said in a press release. The company did not immediately respond to a request for comment on Paxton's lawsuit. Reporting by Doyinsola Oladipo in New York; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

May 9 (Reuters) - Vacation rental booking company Airbnb Inc (ABNB.O) said on Tuesday that it expected fewer bookings and lower average daily rates in the second quarter versus a year earlier, sending shares down 11.5% in after-hours trading. Average daily rates were flat year-on-year at $168. Nicholas Cauley, an analyst at Third Bridge, said pressure on household budgets was likely to result in consumers choosing more affordable accommodation, leading to a decline in average daily rates in future quarters. "Some of the pressures that we're seeing there on overall revenue growth has frankly just been some of the elevated (average daily) rates," Airbnb Chief Financial Officer David Stephenson told investors. The company said earlier this year that average daily rates would remain pressured as vacationers returned to lower-cost urban rentals.

☆ Expedia Group beats Street estimates on record lodging bookings
▼ + stars: | 2023-05-04 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +1 min

NEW YORK, May 4 (Reuters) - Expedia Group Inc (EXPE.O) on Thursday beat Wall street estimates for first-quarter revenue on record lodging bookings and increased international travel demand. "The first quarter saw strong travel demand driven by increasing international travel, major city travel, and the reopening in Asia," Expedia Group CEO Peter Kern said in a statement. The Expedia.com and Hotel.com operator posted an adjusted first-quarter loss of 20 cents per share, missing analysts' expectations for a loss of 4 cent a share. The online booking company's revenue rose to $2.7 billion in the first quarter up 18% from a year ago, the highest first quarter revenue for the company, and beat analysts' average estimate of $2.6 billion. Reporting by Doyinsola Oladipo in New York Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

U.S. hotel operators who have been grappling over the past year with an uneven recovery in Chinese demand are now benefiting from pent-up-demand throughout Asia Pacific, particularly in Greater China. "While macroeconomic uncertainty persists, it has not weighed on travel demand to date. In fact, demand continued to rise across all customer segments in the quarter," Marriott CEO Anthony Capuano said on a call with investors. In the Greater China region RevPAR rebounded to 95% of pre-pandemic levels during the quarter while Mainland China RevPar fully recovered to 2019 levels. "First quarter hotel performance came in a bit better than expected and will likely be the high-water mark for the year," said CoStar Group National Director of Hospitality Analytics Jan Freitag.

REUTERS/Andrew KellyNEW YORK, May 1 (Reuters) - American basketball star Brittney Griner stepped onto the red carpet at the star-studded Met Gala on Monday, embracing a larger spotlight months after returning home from detention in a Russian penal colony. The twice Olympic champion has pledged to advocate for the release of other Americans detained abroad after she was freed from Russia in a high-profile prisoner exchange after nearly 10 months of detention. "I was able to come home," Griner told Vogue at the gala. "It is everything, to be here with my wife able to be here it means so much," Griner said. Twenty-times Grand Slam winner Roger Federer served as a co-chair of the event while China's twice Olympic champion freestyle skier Eileen Gu was also in attendance.

☆ Jared Leto wears giant 'Choupette' costume to Met Gala
▼ + stars: | 2023-05-02 | by ( Ben Kellerman | ) www.reuters.com time to read: +2 min

[1/4] Jared Leto, dressed as Karl Lagerfeld's cat Choupette, poses at the Met Gala, an annual fundraising gala held for the benefit of the Metropolitan Museum of Art's Costume Institute with this year's theme "Karl Lagerfeld: A Line of Beauty", in New York City, New York, U.S., May 1, 2023. The invitation-only Met Gala, famed for its A-list celebrities and extravagant outfits, is a benefit for New York’s Metropolitan Museum of Art and marks the opening of the Costume Institute’s annual fashion exhibit. “Karl loved romantic but he also loved something a little edgy and nasty,” said American fashion designer Michael Kors. Meta Gala co-chair Dua Lipa wore a vintage 1992 Chanel Haute Couture Fall cream tweed gown and paired it with a never before seen 100 karat Tiffany diamond necklace. Reporting by Ben Kellerman in New York; Writing by Doyinsola Oladipo in New York; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ Serena Williams announces pregnancy on Met Gala red carpet
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

NEW YORK, May 1 (Reuters) - Serena Williams confirmed she is expecting baby number two on Monday, telling reporters at the star-studded Met Gala in New York that there were "three of us" on the red carpet, where she arrived with husband Alexis Ohanian. Williams, a long-time friend of Anna Wintour, the Vogue editor-in-chief and Met Gala co-chair, is a frequent attendee of the annual event to benefit the Metropolitan Museum of Art's Costume Institute and on Monday donned a form-fitting black gown with a white skirt. The theme of this year's gala was "Karl Lagerfeld: A Line of Beauty," in honor of the late Chanel designer. Footage from the red carpet showed Ohanian, an entrepreneur and the co-founder of Reddit, gently resting his hand on the midsection of the 41-year-old Williams. Reporting by Ben Kellerman, Amy Tennery and Doyinsola Oladipo in New York; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ MGM Resorts beats Wall Street estimates for first-quarter revenue
▼ + stars: | 2023-05-01 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +1 min

NEW YORK, May 1 (Reuters) - MGM Resorts International (MGM.N) on Monday beat Wall Street estimates for first-quarter revenue due to an increase in traffic and business volumes in Macau and Las Vegas. Casino operators are benefiting from the rebound in traffic in gaming hubs as travel and tourism spending from China rebounds. "MGM Resorts is executing across all of its geographies and channels with record first quarter Las Vegas Strip Adjusted Property EBITDAR, consistently strong Regional Operations profit, MGM China's swift return to profitability," said MGM Resorts CEO Bill Hornbuckle in a press release. The Las Vegas-based casino operator posted an adjusted first-quarter gain of 44 cents per share, beating analysts' expectations for a gain of 1 cent a share. The casino operator's revenue rose to $3.9 billion in the first quarter from $2.9 billion a year ago and surpassed analysts' average estimate of $3.6 billion.

Executives still remained confident about the momentum in demand continuing in the near-term, including in international travel, led by U.S. travelers and China's reopening. Hilton now expects full-year adjusted profit per share between $5.68 and $5.88, compared with a prior forecast of $5.42 to $5.68. The company's net unit growth - which reflects room additions - fell 32% to 5,300 rooms in the first quarter. "We predicted this air pocket (fall in net unit growth), and expect it to be short-term... but this will play to key investor concern on financing risk," Bernstein analyst Richard Clarke said, adding that investor focus was more on unit growth than demand. Hilton reported an adjusted profit of $1.24 per share, compared with analysts' average estimates of $1.13, according to Refinitiv data.

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