Hyatt Hotels Claims A Strong Second Quarter

 

Hyatt Hotels Corporation recorded a net income of $206 million for the second quarter of 2022, up from a net loss of $9 million in the same period last year. As per second-quarter financial statistics, Hyatt’s adjusted net income was $51 million, compared to a $117 million adjusted net loss in the second quarter of 2021. Adjusted EBITDA grew from $55 million to $255 million.

Apple Leisure Group provided $54 million in Adjusted EBITDA, while comparable system-wide RevPAR climbed 82% and hotel RevPAR in the United States increased 85%. In the second quarter, owned and leased hotel RevPAR climbed by 140%, while owned and leased hotel operating margin increased to 31.9%.

Hyatt’s All-Inclusive Net Package RevPAR hit $255.30 per night, and system-wide Net Rooms Growth was 19%. The pipeline of executed management or franchise contracts for the corporation was roughly 113,000 rooms.

“Our second quarter results serve as clear evidence of the earnings power of Hyatt as we continue to transform our business,” Hyatt CEO Mark Hoplamazian said. “Total fee revenue exceeded $200 million and was 27 % higher than any other quarter in the Company’s history driven by a record level of leisure transient revenue and rapidly improving group and business transient demand.”

“Demand broadened both geographically and by segment, with RevPAR in most of our key geographies exceeding the same period in 2019,” Hoplamazian continued. “Our outlook remains optimistic with strong actualized results and booking trends for future periods continuing in July.”

During the second-quarter conference call, Hyatt stated their forecasts for the rest of 2022, including system-wide constant dollar RevPAR increasing by 55-60% over 2021. For hotels that were comparable in both years, RevPAR is estimated to be four to nine % lower than in 2019. The firm expects to increase net rooms by more than 6%.