Hyatt reports third-quarter 2018 results
Reports Strong 7.6% Net Rooms Growth |
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Hyatt reports third-quarter 2018 results
Reports Strong 7.6% Net Rooms Growth |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2018-10-31
Raises Full-Year Outlook for Shareholder Capital Returns to Approximately $1.0 Billion
Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported third-quarter 2018 financial results. Net income attributable to Hyatt was $237 million, or $2.09 per diluted share, in the third quarter of 2018, compared to $18 million, or $0.14 per diluted share, in the third quarter of 2017. Adjusted net income attributable to Hyatt was $37 million, or $0.33 per diluted share, in the third quarter of 2018, compared to $29 million, or $0.24 per diluted share, in the third quarter of 2017. Refer to the table on page 4 of the schedules for a summary of special items impacting Adjusted net income and Adjusted earnings per share in the three months ended September 30, 2018.
Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "We reported another quarter of solid growth, led by a 9% increase in management and franchise fees and 5% RevPAR growth at our owned and leased hotels, both on a constant-currency basis. Our outlook for the remainder of 2018 remains positive, including comparable system-wide RevPAR growth of 3.5% at the mid-point of our full-year guidance range."Third quarter of 2018 financial highlights as compared to the third quarter of 2017 are as follows: - Net income increased to $237 million, aided by gains on sales of real estate.
- Adjusted EBITDA decreased 0.9% to $175 million, an increase of 0.1% in constant currency.
- Comparable system-wide RevPAR increased 2.8%, including an increase of 5.3% at comparable owned and leased hotels.
- Comparable U.S. hotel RevPAR increased 1.4%; full service hotel RevPAR increased 2.5% and select service hotel RevPAR decreased 1.1%.
- Net rooms growth was 7.6%.
- Comparable owned and leased hotel operating margin increased 70 basis points to 21.8%.
- Adjusted EBITDA margin of 29.7% increased 240 basis points in constant currency.
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