- Systemwide RevPAR rose 7.2 percent.
- Gross fees rose 15.2 percent to $327 million.
- Full-year RevPAR growth outlook raised to 5.5 percent.
HYATT HOTELS CORP. raised its full-year 2026 outlook after third-quarter comparable systemwide RevPAR rose 7.2 percent from a year earlier. The company also saw its pipeline grow as well as an increase in stock value.
Net income attributable to Hyatt was $58 million or 60 cents per diluted share, compared with a loss of $49 million a year earlier, Hyatt announced Oct. 29. Adjusted net income was $122 million, or $1.27 per diluted share, and adjusted EBITDA rose 6.2 percent to $295 million.
Gross fees increased 15.2 percent to $327 million and the development pipeline grew 12.1 percent to about 158,000 rooms.
Hyatt now expects full-year comparable systemwide hotel RevPAR to rise 5 percent to 5.5 percent, with U.S. RevPAR up 5 percent to 6 percent. It forecast gross fees of $1.32 billion to $1.335 billion, up 10 percent to 11 percent. It also forecast adjusted EBITDA of $1.17 billion to $1.2 billion, up 14 percent to 17 percent excluding the Playa acquisition ownership period and 2025 asset sales.
“Our strong third quarter results, including 15 percent growth in gross fees, reinforce the strength of Hyatt’s differentiated brands, growing commercial platform, and asset-light business model,” said Mark Hoplamazian, Hyatt’s chairman, president and CEO. “Continued momentum across our business, a record development pipeline, and growing engagement among World of Hyatt members reflect increasing preference for our brands among guests, owners, and developers.”
Luxury properties led RevPAR growth, and leisure transient and group RevPAR also rose. Business transient RevPAR increased in the low single digits. U.S. RevPAR rose 8.2 percent, helped in part by the FIFA World Cup and the timing of the Jewish holidays.
Fees and segment results
Hyatt’s fee growth offset softer all-inclusive resort RevPAR and segment EBITDA performance.Photo credit: Hyatt Hotels Corp.
Base management fees rose 10 percent, incentive management fees 21.9 percent, and franchise and other fees 16.8 percent. Base fees benefited from managed-hotel RevPAR growth, U.S. performance, agreements tied to the Playa Hotels acquisition and new openings. Incentive fees reflected the Playa agreements and results in Asia Pacific. Franchise fees benefited from non-RevPAR contributions and new openings.
Comparable systemwide all-inclusive resort net package RevPAR fell 2.5 percent, mainly because of lower demand for travel to some destinations in Mexico. Growth in the Caribbean and Europe partly offset the decline. Hyatt expects net package RevPAR to return to growth in the fourth quarter and to rise for the full year as Mexico booking trends improve.
Owned and leased segment adjusted EBITDA fell 1 percent excluding 2025 asset sales. Distribution segment adjusted EBITDA also declined. Hyatt attributed the drop mainly to what it called temporary factors, including hotel closures in Jamaica after Hurricane Melissa and lower demand in Mexico.
Development and capital
More than half of Hyatt Essentials’ U.S. signings entered new markets. Pictured is Hyatt House Chicago / West Loop-Fulton Market in Chicago.Photo credit: Hyatt Hotels Corp.
Hyatt opened 3,808 rooms in the quarter. Openings included Hyatt Vivid Punta Cana, the brand’s first property in the Dominican Republic; Beldersoy Resort and SPA, the first Destination by Hyatt property in Uzbekistan; and Thompson Seville.
Trailing 12-month net rooms growth was 3.8 percent, or 3.9 percent excluding Playa rooms removed from Hyatt’s count in the fourth quarter of 2025. More than half of the quarter’s U.S. signings for Hyatt’s Essentials portfolio were in markets new to the company. As of Sept. 30, the portfolio included more than 1,500 hotels and all-inclusive properties in 84 countries.
As of Sept. 30, Hyatt had $4.4 billion in total debt and $1.8 billion in liquidity, including $495 million in cash and short-term investments. It repurchased 867,109 Class A shares for $147 million in the quarter. In the first nine months of 2026, it returned $336 million to shareholders through dividends and buybacks. The board declared a dividend of 15 cents per share, payable Dec. 7 to shareholders of record Nov. 23.
Hyatt also projects net rooms growth of about 6 percent and net income attributable to Hyatt of $240 million to $310 million. It raised its expected capital returns to shareholders to $375 million to $425 million and forecast adjusted free cash flow of $580 million to $630 million.
Separately, Hyatt is introducing financing options, a smaller hotel prototype and conversion brands to reduce development costs.
