Hilton and Hyatt raised their 2026 RevPAR forecasts after a US-led third quarter, but Asia-Pacific split and both still flag the Middle East.
Cover image: Hilton Singapore Orchard (2023 file photo) — photo by Chainwit., CC BY-SA 4.0, via Wikimedia Commons.
Hilton and Hyatt have both raised their 2026 revenue per available room (RevPAR) forecasts after a US-led third quarter. Hilton Q3 2026 RevPAR rose 5.8 per cent on a comparable, currency-neutral basis, the company said on 27 October, and now expects 4.0–4.5 per cent growth for the year, up from 3.0–3.5 per cent. Hyatt followed on 29 October with 7.2 per cent and a full-year range of 5.0–5.5 per cent, up from 3.5–4.5 per cent.
Both credited US demand from the FIFA World Cup and holiday timing. Asia-Pacific went two ways: Hilton's Asia Pacific RevPAR slipped 0.5 per cent, while Hyatt's hotels outside Greater China grew 10.8 per cent. Hilton also moves its listing from the New York Stock Exchange to Nasdaq on 5 November.
Hilton Q3 2026 RevPAR: how far did it beat guidance?
By nearly two points. On 28 July Hilton guided to about 4.0 per cent for the quarter; it delivered 5.8 per cent, with the US up 7.0 per cent and Europe up 6.5 per cent. Net income rose to $536 million from $421 million a year earlier.
Hilton opened 182 hotels with 27,000 rooms in what chief executive Chris Nassetta called its "highest quarter ever for organic openings". Signings continued after the quarter, including a Nordic development agreement with Scandic on 19 October.
The fourth quarter looks softer: Hilton guides to 3.0–3.5 per cent and expects the quarter "to be affected by midterm elections and increased impact from the Middle East". Our 2026 hotel industry performance tracker has the second-quarter figures.
Why did Hyatt raise its 2026 outlook further?
Hyatt Q3 2026 results showed luxury leading RevPAR growth. US RevPAR grew 8.2 per cent, helped in part by the World Cup and the timing of the Jewish holidays, Hyatt said. Gross fees rose 15.2 per cent to $327 million.
The bigger shift is in its assumptions. In July, Hyatt expected international markets to grow moderately faster than the US, with US RevPAR up 3–4 per cent. It now assumes the reverse and puts US growth at 5–6 per cent.
All-inclusive resorts lagged. Net Package RevPAR, Hyatt's measure for them, fell 2.5 per cent on lower demand for "certain destinations in Mexico".
Why are Asia-Pacific hotel results splitting?
Greater China is the soft spot. Hyatt's RevPAR growth there slowed to 2.1 per cent from 7.2 per cent in the second quarter, while the rest of its Asia Pacific estate accelerated to 10.8 per cent.
IHG Hotels & Resorts saw the same pattern in its 22 October update: Greater China RevPAR fell 3.3 per cent, which IHG put down to weather in July and August and to holiday timing that encouraged more outbound leisure travel in late September (see our China Golden Week 2026 report). Its East Asia & Pacific RevPAR rose 8.4 per cent.
Hilton's quarterly filing blames China, where softer consumer sentiment and government restrictions on business and group travel cut RevPAR; Japan and Korea grew. It is still adding brands across the region: LXR debuted in India, DoubleTree in Singapore and Canopy in Thailand.
The table shows year-on-year RevPAR change by each company's regions. It is not like-for-like: Hilton's figures are currency neutral; Hyatt's are in constant dollars and exclude all-inclusive resorts.
| Region | Hilton Q2 | Hilton Q3 | Hyatt Q2 | Hyatt Q3 |
|---|---|---|---|---|
| System-wide | +3.9% | +5.8% | +5.9% | +7.2% |
| United States | +5.4% | +7.0% | +6.7% | +8.2% |
| Europe | +4.3% | +6.5% | +4.5% | +4.3% |
| Middle East & Africa | −29.5% | −5.6% | −28.3% | −0.7% |
| Asia Pacific | +1.2% | −0.5% | Not in release | Not in release |
| Asia Pacific excl. Greater China | Not in release | Not in release | +10.3% | +10.8% |
| Greater China | Not in release | Not in release | +7.2% | +2.1% |
Is the Middle East still weighing on hotel results?
Less than it was. Hilton's Middle East & Africa RevPAR fell 5.6 per cent, against 29.5 per cent in the second quarter; Hyatt's fell 0.7 per cent, after 28.3 per cent. IHG said RevPAR in the six Gulf Cooperation Council states still fell 12 per cent, "given their proximity to ongoing conflict".
Gulf travel has not recovered either: our analysis of UK Civil Aviation Authority data found UK–Gulf passenger traffic 20.6 per cent below 2025 in August.
What changes when Hilton moves to Nasdaq on 5 November?
Little, by Hilton's account. Its shares start trading on Nasdaq under the existing ticker, HLT, and the company says the transfer "does not alter" its business strategy and that the move aligns with its "innovation and growth ambitions".
It joins Marriott International, already listed on Nasdaq, which reports third-quarter results on Monday 2 November.
Frequently asked questions
How much did Hilton's RevPAR grow in the third quarter of 2026?
System-wide comparable RevPAR rose 5.8 per cent on a currency-neutral basis, beating the roughly 4 per cent Hilton guided to in July. Hilton now expects 4.0 to 4.5 per cent for 2026.
What is Hyatt's RevPAR outlook for 2026?
Hyatt expects comparable system-wide hotels RevPAR to grow 5.0 to 5.5 per cent in 2026, up from 3.5 to 4.5 per cent in its 30 July outlook. It now sees US RevPAR rising 5 to 6 per cent, against 3 to 4 per cent previously.
Why did Hilton's Asia Pacific RevPAR fall?
Hilton's quarterly filing blames China, where RevPAR fell as softer consumer sentiment hit leisure travel and government restrictions hit business and group travel. Growth elsewhere, particularly Japan and Korea, did not offset it. Regional occupancy dropped 0.7 points while average daily rate rose 0.5 per cent.
When does Hilton move from the NYSE to Nasdaq?
Hilton expects its shares to begin trading on Nasdaq at market open on 5 November 2026 under its existing ticker, HLT, after trading on the New York Stock Exchange until the close on 4 November. Hilton says shareholders need take no action.
