Skip to content

Search

Latest Stories

Hyatt sees RevPAR, revenue and pipeline soar in Q1

U.S. RevPAR grew by around 2 percent, signaling normalized growth

Hyatt sees RevPAR, revenue and pipeline soar in Q1

HYATT HOTELS CORP. reported strong early 2024 performance, with RevPAR and revenue growth, fueled by pipeline expansion driving its core hotel business and global franchise network. Systemwide RevPAR surged by 5.5 percent compared to 2023, while all-inclusive resorts net package RevPAR soared by 11 percent.

Meanwhile, U.S. RevPAR increased by approximately 2 percent, excluding the Easter impact, indicating normalized growth.


Net rooms grew by about 5.5 percent, with net income at $522 million and adjusted net income at $75 million, Hyatt said in a statement. Adjusted EBITDA stood at $252 million, dropping by 9 percent compared to Q1 2023, mainly due to the Super Bowl in Phoenix, increased real estate taxes, higher wages, and transaction costs from ongoing asset sales.

"The year is off to a great start with gross fee revenue reaching a record of $262 million in the quarter,” said Mark Hoplamazian, Hyatt’s president and CEO. “Our pipeline also reached a new record, expanding 10 percent year-over-year to 129,000 rooms, and we realized net rooms growth of 5.5. World of Hyatt membership has grown by 22 percent, reaching a new record of 46 million members. Significant progress on asset dispositions is further expanding our asset-light earnings mix, reflecting our execution to permanently reduce owned real estate."

Hyatt reported that its pipeline included approximately 670 hotels with 129,000 rooms in the first quarter.

Additional first quarter highlights:

  • Repurchased around 2.5 million shares of Class A and Class B common stock for a total purchase price of $388 million.
  • Full-year comparable system-wide hotels RevPAR is forecasted to increase by 3 percent to 5 percent on a constant currency basis compared to 2023.
  • Full-year net income is projected to range between $1,135 million and $1,195 million.
  • Full-year adjusted EBITDA is estimated between $1,150 million and $1,190 million, aligning with the previously provided 2024 Outlook, adjusting for a $30 million reduction in Adjusted EBITDA due to transactions.
  • Full-year capital returns to shareholders are projected to range between $800 million and $850 million.

Future perfect

Hyatt also sold 80 percent of the entity owning the Unlimited Vacation Club business and closed the sale of Hyatt Regency Aruba Resort Spa and Casino, the statement added. As of May 9, 2024, the company earned $1.5 billion in gross proceeds from real estate dispositions, aiming for $2 billion by year-end 2024, net of acquisitions, as part of its expanded asset disposition commitment announced in August 2021.

Adjusted EBITDA for full-year 2024 remains consistent with the previous outlook, adjusted for a $30 million reduction due to transactions, including the sales of Park Hyatt Zurich, Hyatt Regency San Antonio Riverwalk, Hyatt Regency Green Bay, and the UVC Transaction, the statement said.

Free cash flow also aligns with the prior outlook, considering the $30 million reduction to adjusted EBITDA and $25 million cash tax payments associated with the asset sales, Hyatt added.

In February, Hyatt posted $26 million in fourth-quarter 2023 net income and $220 million for the year, driven by group demand recovery and rate growth across both customer segments.

More for you

Choice Hotels campaigns

Choice launches campaigns for extended-stay brands

Summary:

  • Choice launched two campaigns to boost bookings across its four extended-stay brands.
  • Based on guest feedback, the campaigns focus on efficiency, cleanliness, value and flexibility.
  • They will run through 2026 across social media, Connected TV, digital display and online video.

CHOICE HOTELS INTERNATIONAL launched two marketing campaigns to increase brand awareness and bookings across its four extended-stay brands. The "Stay in Your Rhythm" campaign promotes all four brands by showing how guests can maintain daily routines, while "The WoodSpring Way" highlights the service WoodSpring Suites staff provide.

Keep ReadingShow less
Hotel industry leaders unite at AHLA Summit to support trafficking survivors
Photo credit: AHLA Foundation

AHLA Foundation hosts human trafficking summit

Summary:

  • AHLA Foundation held its No Room for Trafficking Summit and announced Survivor Fund grantees.
  • The summit featured expert panels and sessions on survivor employment and trafficking prevention.
  • Since 2023, the program has awarded more than $2.35 million to 27 organizations.

AHLA FOUNDATION RECENTLY held its annual “No Room for Trafficking Summit” to advance practices and reinforce the industry's commitment to addressing human trafficking through collaboration, education and survivor support. It also announced the 2025–2026 NRFT Survivor Fund grants, which support organizations providing services and resources for survivors.

Keep ReadingShow less
Fed interest rate July
Photo credit: Chip Somodevilla/Getty Images

Fed holds rates steady despite Trump pressure

Summary:

  • The Federal Reserve held interest rates steady and gave no signal of a September cut.
  • Developers and brokers are calling for lower borrowing costs to unlock supply and revive stalled deals.
  • The Fed’s decision followed surprise news that the U.S. economy grew 3 percent in Q2.

THE FEDERAL RESERVE held its key interest rate steady and gave no indication of a cut in September, despite growing pressure from President Trump and his Fed appointees, USA Today reported. The July 30 decision keeps the Fed’s benchmark rate at 4.25 percent to 4.5 percent for a fifth straight meeting.

Keep ReadingShow less
BWH Hotels expands with AI-driven strategy and outdoor lodging focus

BWH sticks to growth plan despite headwinds

Summary:

  • BWH Hotels is staying the course on long-term growth, investing in AI and developer support.
  • A new insurance program has saved some BWH hoteliers $50,000 to $60,000 annually.
  • It aims to reach 5,150 hotels in five years, with 300 deals signed last year and 200-plus in the pipeline.

BWH HOTELS IS maintaining its long-term growth strategy despite market uncertainties, with President and CEO Larry Cuculic citing momentum across core markets. The company is investing in AI, supporting developers and focusing on long-term goals.

Keep ReadingShow less
Amex GBT & Chooose Launch Hotel Emissions Tracker

Amex GBT, Chooose to launch hotel emissions tracker

Summary:

  • Amex GBT and Chooose are launching a hotel emissions tracking tool to calculate users’ Hotel Carbon Measurement Initiative reporting requirements.
  • Emissions data in Amex GBT’s Global Trip Record and Data Lake ensures consistency across travel programs.
  • In January, Finland-based Bob W found hotel carbon emissions are five times higher than HCMI estimates.

SOFTWARE FIRMS AMERICAN Express Global Business Travel and Chooose are launching a hotel emissions tracking tool in the third quarter of 2025. The new tool, integrated into Amex GBT’s platforms, will provide standardized hotel emissions data to calculate users’ Hotel Carbon Measurement Initiative reporting requirements.

Keep ReadingShow less