HYATT REPORTS THIRD QUARTER 2024 RESULTS
Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported third quarter 2024 results. Highlights include:. |
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HYATT REPORTS THIRD QUARTER 2024 RESULTS
Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported third quarter 2024 results. Highlights include:. |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2024-11-04
- Comparable system-wide hotels RevPAR increased 3.0% compared to the same period in 2023
- Comparable system-wide all-inclusive resorts Net Package RevPAR decreased 0.9% compared to the same period in 2023
- Net Rooms Growth was approximately 4.3%
- Net Income was $471 million and Adjusted Net Income was $96 million
- Diluted EPS was $4.63 and Adjusted Diluted EPS was $0.94
- Adjusted EBITDA was $275 million
- Pipeline of executed management or franchise contracts was approximately 135,000 rooms
- Repurchased approximately 4.5 million shares of Class A and Class B common stock for an aggregate purchase price of $657 million
- Full year comparable system-wide hotels RevPAR is projected to increase 3.0% to 4.0% on a constant currency basis compared to full year 2023
- Full year Net Income is projected between $1,400 million and $1,450 million
- Full year Adjusted EBITDA is projected between $1,100 million and $1,120 million
- Full year Capital Returns to Shareholders is projected to be approximately $1,250 million
Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said, "We reported solid third quarter results, with gross fee revenues reaching $268 million. Our pipeline reached a new record of approximately 135,000 rooms, increasing 10% year-over-year, and World of Hyatt membership expanded to a record of 51 million members, growing a remarkable 22% year-over-year. Our operating results and capital allocation strategy, including the completion of our 2021 asset-disposition commitment, acquisition of Standard International, and planned joint venture transaction to manage Bahia Principe branded hotels and resorts, demonstrate the strength of our asset-light earnings model leading to the return of over $1.2 billion to shareholders through share repurchases and dividends so far this year."
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