The company said worldwide RevPAR for Q2 2024 rose 4.9%, reflecting ADR growth of 2.6% and an occupancy improvement of 1.6 percentage points. Worldwide RevPAR for the first half of 2024 increased 4.5%.

1. 01

   The company said worldwide RevPAR for Q2 2024 rose 4.9%, reflecting ADR growth of 2.6% and an occupancy improvement of 1.6 percentage points. Worldwide RevPAR for the first half of 2024 increased 4.5%.

2. 02

   The company said it had 8,969 properties (1,658,659 rooms) in its system at the end of Q2 2024, and that its development pipeline included approximately 3,500 hotels and more than 559,000 rooms. It also said it expects net rooms growth for full-year 2024 of 5.5 to 6.0%.

3. 03

   The company said cash, cash equivalents, and restricted cash totaled $370 million as of June 30, 2024, an increase of $4 million from year-end. Net cash provided by operating activities of $1,551 million and other inflows were offset by share repurchases of $2,156 million and dividends paid of $330 million.

4. 04

   The company said it repurchased 4.1 million shares for $1.0 billion in Q2 2024, and 10.4 million shares for $2.5 billion year to date through July 29, 2024. It also declared a quarterly cash dividend of $0.63 per share on May 10, 2024.

Key figures

Quarter ended June 30, 2024

Revenue

$6.4B

Operating income

$1.2B

Net income

$772M

EPS

$2.69

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.