Hyatt Reports Strong Q2 2024 Results

Hyatt Hotels Corporation announced its second-quarter 2024 financial results, highlighting continued growth and robust performance:

• RevPAR Growth: Comparable system-wide hotels RevPAR rose by 4.7% year-over-year, reflecting strong demand and higher room rates.
• All-Inclusive Resorts: Comparable system-wide all-inclusive resorts saw a 3.0% increase in Net Package RevPAR.
• Room Expansion: The company achieved a net rooms growth of approximately 4.6%.
• Financial Performance: Net income reached $359 million, with adjusted net income at $158 million. Diluted EPS stood at $3.46, and adjusted diluted EPS was $1.53.
• Adjusted EBITDA: The adjusted EBITDA was $307 million, reflecting operational efficiency and profitability.
• Share Buybacks: Hyatt repurchased around 907,000 shares of Class A common stock for $134 million.
• Future Outlook: Full-year projections include a 3.0% to 4.0% increase in RevPAR, with net income expected between $1,055 million and $1,115 million and adjusted EBITDA ranging from $1,135 million to $1,175 million. Capital returns to shareholders are projected to be between $800 million and $850 million.

Hyatt’s pipeline of new management or franchise contracts reached a record 130,000 rooms, a 9% increase from the previous year, showcasing strong developer interest. The World of Hyatt loyalty program also saw a significant increase, with membership growing by 21% year-over-year to 48 million members.

Mark S. Hoplamazian, President and CEO, praised the company’s performance, noting the strength of Hyatt’s asset-light business model and its ability to deliver significant free cash flow and shareholder value.

For more details, visit [Hyatt’s full release].