Hyatt Hotels ( (H) ) has released its Q3 earnings. Here is a breakdown of the information Hyatt Hotels presented to its investors.
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Hyatt Hotels Corporation, headquartered in Chicago, is a global hospitality company offering a wide range of hotel and resort brands across six continents, including luxury and all-inclusive properties.
In the third quarter of 2024, Hyatt Hotels reported a net income of $471 million and an adjusted net income of $96 million, with a 3.0% increase in comparable system-wide hotels RevPAR compared to the previous year. The company’s adjusted EBITDA was $275 million, reflecting solid financial performance amidst strategic growth initiatives.
Key financial metrics from the quarter highlight a net rooms growth of 4.3% and the execution of management or franchise contracts for approximately 135,000 rooms. Additionally, the company repurchased 4.5 million shares, returning over $1.2 billion to shareholders. Significant strategic moves include the acquisition of Standard International and plans for a joint venture with Grupo Piñero, which will add 23 all-inclusive resorts to Hyatt’s portfolio.
Looking ahead, Hyatt projects a full-year net income between $1,400 million and $1,450 million, with a RevPAR increase of 3.0% to 4.0%. The company remains focused on expanding its asset-light business model and is optimistic about continued growth and shareholder returns in the upcoming year.
