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US Hotel RevPAR Surged 8.7% in June, Macquarie Favors Hyatt
Summary
U.S. hotel revenue per available room (RevPAR) jumped 8.7% in June, driven by the World Cup and luxury travel, according to Macquarie. The investment bank reiterated its preference for Hyatt due to its high exposure to the outperforming premium segments.
U.S. hotel revenue growth accelerated significantly in June, with a key industry metric rising 8.7% year-over-year, according to preliminary data from Macquarie. The investment bank noted the surge was driven by demand related to the FIFA World Cup and sustained leisure travel, reinforcing its preference for Hyatt Hotels Corp (NYSE:H).
June Performance Accelerates
The June increase in revenue per available room (RevPAR), a critical performance indicator for the lodging industry, marked a notable pickup from the 4.4% and 4.0% growth rates seen in April and May, respectively. Macquarie's analysis attributes the June figure to a 6.8% increase in average daily rate (ADR) combined with a 1.7% gain in occupancy.
World Cup and Luxury Demand Drive Growth
The growth was not evenly distributed, with premium segments and specific geographies showing the most strength. Luxury properties led the expansion, posting RevPAR growth of approximately 16%, while upper upscale hotels saw an increase of roughly 9%. According to Macquarie, performance declined progressively for lower-priced chainscales.
The impact of the World Cup was also evident in the top 25 U.S. markets:
Ad- FIFA host cities recorded 13% RevPAR growth.
- Non-host cities saw a more modest 7% growth.
Q2 Outlook and Investor Implications
For the full second quarter of 2026, Macquarie estimates U.S. RevPAR grew approximately 5.7% year-over-year. This represents an acceleration from the first quarter's 3.8% growth and surpasses previous systemwide guidance of 2% to 3% issued by industry giants Marriott International (NASDAQ:MAR) and Hilton Worldwide Holdings (NYSE:HLT).
The outperformance in the premium sector is central to Macquarie's positive view on Hyatt. The bank estimates that 68% of Hyatt's room portfolio is in the luxury and upper upscale segments, compared to 52% for Marriott and 28% for Hilton, positioning it to benefit disproportionately from current travel trends.
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