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Lodging Firms Beat Q1 but Brace for Q2, AI Direct Bookings Post Real Numbers, Hotels Leave Revenue Behind

Every public lodging company beat Q1 2026 earnings estimates and 11 of 14 raised full-year guidance, but Middle East drag and the risk of World Cup underperformance cloud the second-half outlook. A Shiji Horizon Distribution and Kismet integration reported a 2.1x direct revenue increase and 17% of bookings through AI channels within 60 days, the most concrete data yet on AI-driven direct bookings. Two analyses argue hotels are leaving identifiable revenue uncaptured, from a $67 billion marine excursion economy to the upsell potential of frontline staff.