Airline and Hotel Operating and Financial Reports

Fraport Revenue Takes Off as Pandemic Restrictions Are Lifted Across the Globe

Fraport Revenue Takes Off as Pandemic Restrictions Are Lifted Across the Globe

A Condor Flugdienst Boeing 767-300ER at Frankfurt

Fraport AG, the operator of Frankfurt Airport, announced traffic figures for the airport for the third quarter of 2021.
Revenue for the period was €633.8 million, a 79.5% increase compared to €353.1 million in the same period in 2020.
“Following the massive losses experienced in 2020 and the resulting sharp rise in debt, we are now seeing brighter prospects ahead,” said Fraport’s CEO, Stefan Schulte, who …

Marriott Reports $220 Million Profit, Sees ‘Continued Meaningful Improvement’

Marriott Reports $220 Million Profit, Sees ‘Continued Meaningful Improvement’

Marriott announced financial results for third quarter of 2021.
The hotelier reported a profit of $220 million for the quarter, compared to $100 million in profit in the same period last year.  Revenue was $3.9 billion, a figure that was up 75% when compared to Q3 2020.
Revenue in 2020 was significantly impacted by the coronavirus-induced decline in travel.
The chain’s CEO, Anthony Caputo, said that the company witnessed “continued meaningful improvement in …

Hilton Reports Quarterly Profit as Travel Returns

Hilton Reports Quarterly Profit as Travel Returns

Hilton Worldwide announced financial results for third quarter of 2021.
The hotelier reported a profit of $240 million for the quarter, compared to a loss of $81 million in the same period last year.  Revenue was $1.7 billion, a figure that was up 93% when compared to Q3 2020.
“Leisure travel remained strong and business travel continued to pick up during the quarter,“ said Christopher Nassetta, the company’s CEO, who added that …

United Airlines Reports 32% Drop in Revenue for Third Quarter

United Airlines Reports 32% Drop in Revenue for Third Quarter

United Airlines announced financial results for the third quarter of 2021.
The Chicago-based airline reported net income of $473 million, a figure that was boosted by $1.13 billion in federal payroll aid, on revenue of $7.75 billion,
Net income was down 54% from $1,024 million in 2019, while revenue fell 31.9% compared to the same period in 2019.
United said that, despite the impact of the Delta variant of the coronavirus in the …

American Sees Lower August Revenue Than Expected Amidst Rise in New Covid Cases

American Sees Lower August Revenue Than Expected Amidst Rise in New Covid Cases

American Airlines, the world’s largest carrier, warned that August revenue will be weaker than expected amidst a rise in coronavirus cases that have driven down new bookings.
The rise in new infections is being driven by the highly contagious Delta variant, also known as B.167.1.2.
The news follows similar reports from Southwest Airlines, Spirit Airlines, and Frontier Airlines.
“This has been and we expect will continue to be a very choppy recovery month,” …

Marriott Swings to Profit, Sees Blending of Leisure Trips with Business

Marriott Swings to Profit, Sees Blending of Leisure Trips with Business

Marriott International announced financial results for second quarter of 2021.
The hotel operator reported revenue of $486 million in the quarter compared to a net loss of $234 million in the same period in 2020 amidst the coronavirus pandemic induced downturn in travel and to net income of $232 million in the same period in 2019.  The improvement was driven by leisure travel, while the company keeps “a close eye” on …

Hilton Reports $1.3 Billion in Revenue in Second Quarter

Hilton Reports $1.3 Billion in Revenue in Second Quarter

Hilton Worldwide announced financial results for the second quarter of 2021.
The hotelier reported a net income of $128 million on revenue of $1.3 billion, versus a net loss of $430 million in the same period in 2020.
The second quarter results reflect “our ongoing recovery from the negative effects of the Covid-19 pandemic,” said the chain’s president, Christopher Nassetta, who cited “renewed interest in travel and tourism, with families embarking on …