Hyatt Hotels Shines with 5.7% RevPAR Growth in Q1 2025
HYATT HOTELS CORP. reported a 5.7 percent year-over-year increase in systemwide comparable RevPAR for the first quarter of 2025, driven by business transient and group travel. The company’s net rooms grew 10.5 percent, supported by openings and new property integrations.
The company opened 11,253 rooms in the first quarter, including its first Hyatt Studios in Mobile, Alabama and The Venetian Resort Las Vegas, adding more than 7,000 rooms to its booking channels, Hyatt said in a statement.
“In the face of growing volatility in the economy and financial markets, we continue to deliver strong performance, highlighted by our first quarter results,” said Mark Hoplamazian, Hyatt’s president and CEO.
The company reported first quarter net income of $20 million and adjusted net income of $46 million. Adjusted EBITDA rose 5.4 percent to $273 million, but excluding assets sold in 2024, growth was 24.4 percent, reflecting stronger underlying performance.
Gross fees increased 16.9 percent year-over-year to $307 million in the first quarter, driven by recent acquisitions. The company’s pipeline remains strong with about 138,000 rooms under executed management or franchise contracts. Hyatt also launched Hyatt Select, a new upper midscale brand targeting modern travelers and offering efficient models for owners.
Hyatt reported $4.3 billion in total debt and $3.3 billion in liquidity, including $1.8 billion in cash and short-term investments and nearly $1.5 billion in borrowing capacity. In the first quarter, it repurchased more than 1 million shares for about $149 million and repaid $450 million in maturing senior notes. Hyatt declared a $0.15 per share dividend, payable June 11, in line with its capital return strategy.
Hyatt expects full-year RevPAR growth of 1 percent to 3 percent and net rooms growth of 6 percent to 7 percent. Adjusted EBITDA is forecasted between $1.08 billion and $1.135 billion, reflecting a 6 percent to 12 percent increase over 2024 after asset sales.
“As we look ahead, recent shifts in booking behavior—particularly in shorter-term demand—have led us to modestly revise our outlook for the remainder of the year,” Hoplamazian said. “That said, we remain confident in the resilience of our asset-light business model, the strength of our brand portfolio and our ability to adapt to evolving market conditions. We are excited about the momentum in our pipeline and the continued strong demand we’re seeing for our brands around the world.”
The Playa Hotels acquisition, announced in February, is progressing, with Hyatt securing $990 million through bond issues and a $1.7 billion delayed draw term loan facility to fund the transaction. The sale of Playa’s real estate is expected to close soon. Free cash flow is projected at $450 million to $500 million, excluding taxes on asset sales and costs related to the Playa Hotels acquisition.
Hyatt operates more than 1,450 properties in 79 countries, offering 24 brands across luxury, lifestyle and midscale segments. The company continues to focus on expanding its World of Hyatt loyalty program and growing its global presence with a mix of owned and asset-light models.
In March, Hyatt formed an advisory board to enhance well-being offerings, focusing on meetings, events, well-being menus, culinary programs, and sleep wellness at select hotels.
