
[UPDATE] Hotel groups have demonstrated resilience and positive growth despite a complex economic environment. Their strong financial results and strategic initiatives highlight the diversity and ambition driving the hotel industry forward.
Compagnie des Alpes: A Growth-Oriented Start to Fiscal Year 2024/25
Compagnie des Alpes delivered a strong performance in the first quarter of its 2024/25 fiscal year (October 1 to December 31, 2024), achieving consolidated revenue of €261.8 million—a 30.7% increase compared to the same period last year. Excluding the impact of Urban Group’s integration, growth stood at 23.4% on a like-for-like basis.
Ski Resorts: Continued Enthusiasm
Revenue from the Ski Resorts & Outdoor Activities division reached €79.9 million, up 19.7%. While this growth was partly due to a favorable calendar effect, with two extra Christmas holiday days, the underlying trend remains positive. Adjusting for this factor, ski lift revenue increased by 7%, driven by a 2% rise in skier-days.
Optimal snow conditions and strategic investments, such as the launch of the new Transarc gondola at Les Arcs and the Marais chairlift in Tignes, contributed to these strong results. Compagnie des Alpes continues to enhance the appeal and efficiency of its ski resorts while minimizing their environmental impact.
Distribution & Hospitality: Sustained Momentum
The Distribution & Hospitality division generated €17.4 million in revenue, marking a 25.4% increase. MMV, the second-largest hotel group in the French Alps, saw a four-point increase in occupancy rates and higher average nightly revenue. The upscale renovation of the Village Club in Flaine and the Green Key certification of 18 establishments illustrate the group’s commitment to sustainable tourism.
Mountain Collection Immobilier benefited from the opening of a new agency in Les 2 Alpes and the expansion of its rental management business, while subsidiary Travelfactory experienced strong growth, particularly in the Netherlands.
Theme Parks: A Record-Breaking Halloween
The Leisure Parks division achieved remarkable results, with revenue of €164.5 million—up 37.5% (or 25.3% on a like-for-like basis). Attendance surged by 17%, fueled by immersive themes and expanded events. Parc Astérix, Walibi Belgium, Futuroscope, and Bellewaerde attracted larger audiences with extended evening hours, new characters, and revamped attractions.
Urban Group’s integration is also progressing well, with a 10% increase in revenue.
Strategic Investments and Optimistic Outlook
During the quarter, Compagnie des Alpes acquired an additional 3.44% stake in Urban Group, bringing its total ownership to 86.4%. Furthermore, its partnership with Prinoth for the industrialization of electric snow groomers underscores the company’s commitment to sustainable mountain tourism.
With strong bookings and favorable snow conditions, Compagnie des Alpes anticipates a dynamic second quarter. The company confirms its target of around 10% EBITDA growth for the 2024/25 fiscal year, though uncertainties remain regarding the season’s end due to the late timing of the Easter weekend and shifting foreign school holiday schedules.
Buoyed by these successes, Compagnie des Alpes approaches the year with confidence and ambition, continuing its strategy of innovation and environmental commitment to enhance customer experiences.
CapitaLand Ascott Trust Reports Strong Growth in H2 2024 with a 6% Revenue Increas
CapitaLand Ascott Trust (CLAS) ended the second half of 2024 (July to December) with solid financial results, recording a 6% revenue increase to S$423.2 million. This performance was driven by improved operational management, strategic acquisitions, and the completion of asset enhancement initiatives (AEIs), despite negative impacts from exchange rate fluctuations and higher financing costs.
Revenue per available unit (REVPAU) also saw a significant 6% increase, reaching S$167, with further growth of 9% in Q4 compared to the previous year. CLAS surpassed pre-pandemic levels, with Q4 REVPAU reaching 113% of 2019 figures, supported by higher average prices and an increased occupancy rate of 81%, up from 77% a year earlier. Key markets such as Japan, Australia, Singapore, and the UK experienced notable gains.
CLAS’s portfolio also recorded a 1% valuation increase (S$72 million), attributed to strong operational performance and completed AEIs.
“As CLAS presses forward with its portfolio reconstitution strategy, there may be some near-term unevenness on CLAS’ operational income resulting from divestments or properties undergoing AEIs. However, these efforts will enhance CLAS’ income and generate more value to Stapled Securityholders over time, as we have seen from properties that have completed AEIs such as Citadines Holborn-Covent Garden in London and The Robertson House by The Crest Collection in Singapore. To mitigate the short-term impact of our upcoming AEIs, CLAS will distribute past undistributed divestment gains to keep distributions stable.” - Serena Teo, CEO of CLAS Managers
The Originals Human, Hotels C Resorts: A Year Marked by Growth, Model Attractiveness, and Sustainability Commitment
A Growth Dynamic Despite a Complex Economic Environment
In 2024, The Originals Hotels confirmed its growth dynamic despite a complex economic environment. The network successfully attracted new members and maintained a solid economic performance. The year was marked by the addition of 20 new hoteliers, representing over 1,000 rooms, as well as participation in strategic trade shows such as EquipHotel and the Franchise Fair, which strengthened the group's visibility.
Financial Results and Economic Performance
With total revenue of €124.2 million, the cooperative achieved a slight increase of 1.53% compared to the previous year, thereby consolidating its cooperative model. This model continues to attract a wide range of hoteliers, from private investors to young hotel groups, including former cooperators returning to the network after experiences with other brands.
Growth in MICE and Corporate Segments
In the MICE (Meetings, Incentives, Conferences, and Events) sector, the cooperative also recorded notable growth, with revenue exceeding €350,000, driven by the recovery of residential seminars, which now account for 65% of events. This dynamic is accompanied by projects aimed at further developing this segment in 2025.
In the corporate sector, the cooperative strengthened its direct distribution, particularly through its business offers and step-over nights, generating over €500,000 in revenue. At the same time, indirect channels continued to grow, particularly through OTAs and GDS, which generated €6.4 million (+10%) and €2.62 million (+16%) respectively.
Sustainability Commitment and Enhanced CSR Initiatives
The year 2024 was also marked by significant progress in sustainability. Over 30% of the network's establishments adopted CSR initiatives, including environmental certifications and energy audits, with a strong commitment to transitioning toward more sustainable practices. The group intensified its support by providing personalized kits and evolving its self-assessment tool "MonEvalRSE," allowing hotels to measure their impact and progress in their ecological initiatives.
Ambitions for 2025: Economic Performance and Human Values
In 2025, The Originals Hotels will continue its development with a clear ambition: to combine economic performance with human values. Strategic priorities for the upcoming year include signing new establishments and strengthening existing partnerships, while continuing to accelerate CSR initiatives to support hotels in their sustainable transition. Additionally, particular emphasis will be placed on optimizing direct sales to strengthen relationships with customers and improve the customer experience.
International Year of Cooperatives and the Future of the Cooperative Model
The year 2025, designated as the International Year of Cooperatives by the UN, will be an opportunity to celebrate 57 years of experience with The Originals Hotels’ cooperative model, which continues to stand out for its human approach and commitment to sustainable values.
"In 2024, our cooperative demonstrated the strength of its model, based on human values and a shared vision. In 2025, the International Year of Cooperatives, we will continue to support our members to build an even more unique, sustainable, and authentic hospitality." — Olivier Dufit, General Manager of The Originals Human Hotels & Resorts.
OKKO HOTELS: Performance and Sustainable Commitment in 2024
In 2024, OKKO HOTELS, the first hotel group with a "Société à Mission" status, successfully combined growth, commitment, and differentiation despite a challenging economic context. The year was marked by solid financial results and a positive impact, showcasing the uniqueness of the group's model.
Solid Financial Results
OKKO HOTELS recorded a turnover of €52.6 million, a 2.6% increase compared to 2023, and welcomed over 500,000 guests, including more than 10,000 during the Olympic Games. These performances confirm the group's strength and resilience in the face of economic challenges. In terms of customer satisfaction, OKKO HOTELS achieved a global satisfaction rate of 86.2%, up by 0.8 points, and significantly surpassed the average for 4-star hotels, with an impressive score of 90.7% for service quality.
Growing Success in F&B
The food and beverage sector was another highlight in 2024, with an 18% increase in F&B turnover. This success reflects the growing appeal of the gastronomic offerings provided by OKKO HOTELS, which continue to attract travelers and enhance the overall customer experience.
Sustainable Commitment and Concrete Actions
As the first hotel group with a "Société à Mission" status, OKKO HOTELS published its first mission report in 2024, summarizing the concrete actions taken by the group to address climate and social challenges. Notable initiatives include the training of 200 employees on climate issues through the “Atelier 2 Tonnes” program, which strengthens their role in the low-carbon transition. The group also formed a solidarity partnership with the Comyces Foundation, enabling the accommodation of families with hospitalized children near three OKKO HOTELS in Paris under the "Un hôtel pour mes parents" program.
Innovative Projects and Industry Recognition
OKKO HOTELS was also recognized for its innovation. The group won the "Coup de Cœur" award at the EquipHotel 2024 trade show for La Collab, a landmark project that introduced two eco-designed, 100% Made in France room concepts, reinventing the standards of contemporary hospitality.
Ambitions for 2025: Strengthened Development
In 2025, OKKO HOTELS will continue its expansion with the opening of its 15th property in Troyes. Located in the heart of the city, this project is part of an urban rehabilitation program aimed at revitalizing medium-sized cities.
“Troyes illustrates our desire to revitalize medium-sized cities with hospitality that combines proximity, commitment, and modernity. This project reflects our mission: to offer design-driven, responsible spaces that contribute to the economic and social rejuvenation of these regions.” – Solenne Ojea-Devys
At the same time, OKKO HOTELS is accelerating its development with the launch of its franchise, aiming to reach 40 hotels in France and Europe in the coming years. These ambitions reflect the strength and determination of the group for the future.
Hilton Reports Record Results for 2024 and Strong Outlook for 2025
Hilton Worldwide Holdings Inc. has released its financial results for the fourth quarter and the full year of 2024, surpassing initial forecasts. The company reported a net income of $505 million (approximately €470 million) for the last three months of the year, bringing the total annual figure to $1.539 billion (approximately €1.43 billion). Adjusted EBITDA reached $858 million (approximately €797 million) in the fourth quarter and $3.429 billion (approximately €3.186 billion) for the year, exceeding even the most optimistic estimates.
Hilton’s growth was also reflected in a notable increase in RevPAR (Revenue per Available Room), which rose by 3.5% in the fourth quarter and 2.7% for the full year, on a currency-neutral basis, compared to 2023. This momentum is driven by strong demand in key markets and an optimized hotel portfolio management strategy.
The group continued its expansion at a steady pace, approving 34,200 new rooms in the last quarter, bringing its development pipeline to 498,600 rooms as of December 31, 2024. This represents an 8% increase from the previous year. At the same time, Hilton added 22,600 rooms to its network in the fourth quarter, with a total of 98,400 new rooms opened throughout the year, resulting in a net unit growth of 7.3%.
For 2025, Hilton anticipates continued growth momentum. Global RevPAR is expected to increase by 2.0% to 3.0% compared to 2024, on a currency-neutral basis. Net income is projected to be between $1.829 billion and $1.858 billion (approximately €1.7 billion to €1.73 billion), while adjusted EBITDA is forecasted to range from $3.7 billion to $3.74 billion (approximately €3.44 billion to €3.48 billion).
Marriott International reports solid Q4 2024 results and positive outlook for 2025
Marriott International concluded 2024 with steady growth, reporting a 5.0% increase in global revenue per available room (RevPAR) in the fourth quarter. While the U.S. and Canada experienced a 4.1% increase, international markets saw a more pronounced growth of 7.2%. Over the course of the year, the company expanded its portfolio significantly, adding more than 123,000 rooms and achieving a net room growth of 6.8%. With a development pipeline that now exceeds 577,000 rooms, Marriott continues to strengthen its global presence.
The fourth quarter of 2024 reflected positive financial performance, with:
- Gross fee revenues reaching $1,128 million, a 10% increase compared to the previous year.
- Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) amounting to $1,286 million, representing a 7% increase from the same period in 2023.
- Adjusted net income totaling $686 million.
- Adjusted diluted earnings per share (EPS) standing at $2.45.
- The company closed the year with over 9,300 properties worldwide.
- More than $4.4 billion returned to shareholders through dividends and stock buybacks in 2024.
“We continued to enhance our portfolio to deliver new travel experiences to our guests around the world. We advanced our presence in the midscale segment with the opening of 28 Four Points Flex hotels across EMEA and APEC and the debut of the City Express by Marriott brand in the U.S. & Canada. We also strengthened our non-traditional offerings with founding deals in the outdoor lodging segment with key players Postcard Cabins and Trailborn. “Looking ahead, I am incredibly optimistic about Marriott’s future. With our unparalleled global rooms distribution and brand portfolio, leading loyalty program with nearly 228 million Marriott Bonvoy members and our dedicated associates, I believe Marriott is well-positioned to take advantage of the continued momentum in travel. With our powerful, cash-generating asset-light business model, we look forward to delivering strong, valuable growth as we continue to connect people around the world through the power of travel.” - Anthony Capuano, President and Chief Executive Officer
Looking ahead to 2025, Marriott anticipates continued growth in both RevPAR and overall portfolio expansion. The company projects:
- A worldwide RevPAR increase of 2% to 4%.
- Net room growth of 4% to 5% by year-end.
- Investment spending estimated between $1,000 million and $1,100 million.
- Capital return to shareholders expected to reach approximately $4,000 million.
- For the first quarter of 2025:
- Gross fee revenues ranging between $1,240 million and $1,255 million.
- Adjusted EBITDA projected between $1,170 million and $1,195 million.
- Adjusted diluted EPS forecasted between $2.20 and $2.26.
- An effective tax rate of approximately 22%.
- For the full year 2025:
- Gross fee revenues between $5,370 million and $5,480 million.
- Adjusted EBITDA projected between $5,295 million and $5,435 million.
- Adjusted diluted EPS expected to fall between $9.82 and $10.19.
- An effective tax rate of approximately 26%.
With a stable financial position and an expanding development pipeline, Marriott continues to adapt to evolving travel trends. The company remains focused on measured expansion and sustainable growth, contributing to its role in the global hospitality industry. As 2025 progresses, Marriott aims to sustain its business performance while delivering value to shareholders and guests.

