Q1 global RevPAR grew 4.4% YoY, topping the 3.3% consensus, led by Greater China (5.7%) and EMEAA (5.6%).
Net system size rose 5.0% to 1,036,000 rooms across 7,014 hotels; 14,900 rooms opened in 82 hotels, 2% YoY.
Shares jumped 3.7% after results; $240 m of a $950 m 2026 buyback completed, cutting share count 1.1% and targeting $1.2 bn returns.
Revenue growth strongest for Groups (+7%) and Business travel (+6%); Q2 on‑books revenue expected to stay robust despite Middle East conflict.