Originally Posted by
UA-NYC
Hilton/IHG earnings both flat, Hyatt up. Marriott profits down 23% - how exactly can that be possible when they are actively reducing costs to their customers (hotels), and if they have such a crazy high 90% approval rate vs. the program a year or so ago? Makes you go hmmmmm....
It's actually perfectly logical, -- just that FTers tend to start with the most negative possible interpretation of everything. A quick look through publicly available financial information gives the answer.
YTD through third quarter 2019 compared to the same period in 2018: Revenue was up slightly year over year. It's the expenses that killed them. "Merger Related Costs" went from $64 million in 2018 to $191 million in 2019. Also, "Gains and other income" went way down, from $191 million in 2018 to $16 million in 2019. Interest expense went up $50 million 2019 over 2018. That's where the big differences are.
Total revenues in first nine months of 2018 were $15,469 million and went up slightly in 2019 to $15,601 million, up very slightly, as reported. Same with REVPAR.