Some of the world’s largest hotel companies saw their earnings dented by currency swings in the first half of 2025, as euro and baht-reporting groups absorbed losses while U.S.-based chains appeared largely insulated from the volatility.

Accor, Meliá Hotels, and Minor International all reported currency-related losses that offset solid operational performance. Meanwhile, U.S.-based Hilton and Wyndham, which report in dollars, did not mention foreign exchange impacts in their earnings calls and appeared shielded from the same pressures.

The U.S. dollar index dropped 10.8% in the first half of 2025 following the Trump administration’s April tariffs and public clashes with the Federal Reserve. The resulting investor pullback caused the dollar to weaken sharply against the euro, baht, and other currencies.

Accor: Currency Among Its Biggest Headwinds

Paris-based Accor repo

Iberostar says rooftop solar, electrification, and renewable energy contracts are helping it reduce greenhouse gas emissions, according to its latest sustainability report.

The Spanish hotel group, which operates nearly 100 properties worldwide, reported a 17% year-over-year reduction in its Scope 1 and 2 greenhouse gas emissions for 2024.

Scope 1 emissions cover direct sources Iberostar owns or controls, like fuel for boilers. Scope 2 refers to indirect emissions from purchased electricity and energy. 

The company told Skift its progress came largely from switching hotel operations in Spain to 100% renewable electricity, after gaining a major su