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    Patrick Montour

    Research Analyst at Barclays

    Patrick Montour is an equity research analyst at Barclays specializing in the travel and leisure sector, with a focus on major hospitality and cruise line companies. He covers leading firms such as Royal Caribbean Group, Norwegian Cruise Line Holdings, and Travel + Leisure Co., consistently updating overweight and buy recommendations; his recent calls on Royal Caribbean have demonstrated strong accuracy by raising price targets in line with ongoing market performance. Montour began his analyst career several years ago and is recognized within industry coverage lists for providing actionable research, though specific performance rankings or credentials are not publicly disclosed. He is listed as the Barclays analyst for Choice Hotels, Norwegian Cruise Line, and Travel + Leisure Co., demonstrating broad expertise across the travel industry.

    Patrick Montour's questions to Hyatt Hotels (H) leadership

    Patrick Montour's questions to Hyatt Hotels (H) leadership • Q3 2024

    Question

    Patrick Montour from Barclays asked for clarification on whether the 6% gross unit growth outlook includes standard conversions and requested details on the price versus occupancy mix for the strong Q1 transient booking pace.

    Answer

    President and CEO Mark Hoplamazian clarified that the 6% growth outlook does include 'run of the mill' single-asset conversions but excludes large portfolio deals. Regarding Q1 pace, he stated that ADRs were flat to slightly up, meaning that the strong revenue growth was primarily driven by increased occupancy, which provides good visibility, especially in the all-inclusive segment.

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