Hyatt reports First Quarter 2011 Results (United States)
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Hyatt reports First Quarter 2011 Results (United States)
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Category: North America & West Indies / Carribean islands - United States - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2011-05-04
Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported financial results for the first quarter of 2011 as follows:
FIRST QUARTER 2011
Adjusted EBITDA was $109 million compared to $112 million in the first quarter of 2010, a decrease of 2.7%.
Net income attributable to Hyatt was $10 million, or $0.06 per share, compared to net income attributable to Hyatt of $5 million, or $0.03 per share, in the first quarter of 2010. Adjusted for special items, net income attributable to Hyatt was $11 million, or $0.07 per share, during the first quarter of 2011 compared to net income attributable to Hyatt of $0, or $0.00 per share, during the first quarter of 2010. See the table on page 3 of the accompanying schedules for a summary of special items.
Comparable owned and leased hotels RevPAR increased 2.0% (1.4% excluding the effect of currency) compared to the first quarter of 2010.
Owned and leased hotel operating margins decreased 120 basis points compared to the first quarter of 2010. Comparable owned and leased hotel operating margins decreased 130 basis points compared to the same period in 2010. See the table on page 8 of the accompanying schedules for a reconciliation of comparable owned and leased hotel operating margin to owned and leased hotel operating margin.
Comparable North American full-service RevPAR increased 8.1% (7.9% excluding the effect of currency) compared to the first quarter of 2010. Comparable North American select-service RevPAR increased 11.6% compared to the first quarter of 2010.
Comparable International RevPAR increased 11.0% (6.9% excluding the effect of currency) compared to the first quarter of 2010.
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