Home Hospitality Hyatt Reports First Quarter 2022 Results

Hyatt Reports First Quarter 2022 Results


CHICAGO – Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported first quarter 2022 financial results. Net loss attributable to Hyatt was $73 million, or $0.67 per diluted share, in the first quarter of 2022, compared to a net loss attributable to Hyatt of $304 million, or $2.99 per diluted share, in the first quarter of 2021. Adjusted net loss attributable to Hyatt was $36 million, or $0.33 per diluted share, in the first quarter of 2022, compared to Adjusted net loss attributable to Hyatt of $363 million, or $3.57 per diluted share, in the first quarter of 2021.

“We are optimally positioned at this stage in the recovery as demonstrated by the momentum in our results this quarter,” said Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt Hotels Corporation. “Record levels of leisure demand fueled nearly 60% of our rooms revenue in the quarter with continued outperformance at our resorts and all-inclusive properties. We expect the rate of recovery to broaden and strengthen in the months ahead as evidenced by the strong pace of actualized and future bookings for business and group travel. Our outlook remains very optimistic for the remainder of the year with system-wide RevPAR in April accelerating further from March.”

First quarter 2022 financial results as compared to the first quarter 2021 are as follows:

  • Net loss decreased to $73 million from a loss of $304 million.
  • Adjusted EBITDA increased to $169 million from a loss of $20 million.
    • Apple Leisure Group (“ALG”) contributed $56 million of Adjusted EBITDA.
    • Adjusted EBITDA does not include ALG’s Net Deferrals of $24 million and Net Financed Contracts of $7 million.
  • Comparable system-wide RevPAR increased 107% to $93.98 and comparable U.S. hotel RevPAR increased 126% to $104.45 in the first quarter of 2022.
  • Comparable owned and leased hotels RevPAR increased 217% to $143.50 and comparable owned and leased hotels operating margin improved to 26.9% in the first quarter of 2022.
  • All-inclusive Net Package RevPAR was $204.66 with an Average Daily Rate of $309.90.
  • System-wide Net Rooms Growth was 18.6% in the first quarter of 2022. Excluding the acquisition of ALG, Net Rooms Growth was 5.2%.
  • Pipeline of executed management or franchise contracts increased 13% to approximately 113,000 rooms. Excluding the acquisition of ALG, the pipeline increased 5% to approximately 105,000 rooms.

Mr. Hoplamazian continued, “We have made significant progress towards our new $2.0 billion asset disposition commitment we announced last year. In April of this year, we closed on the sale of three owned hotels and expect to close on the sale of a fourth hotel in the second quarter. Combined, the disposition of these four hotels results in $812 million in expected gross disposition proceeds, or over 40% of our $2.0 billion disposition target, at an implied multiple of 15.7x 2019 EBITDA, marking significant progress towards our fee-based earnings transformation.”

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About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of December 31, 2021, the Company”s portfolio included more than 1,150 hotel and all-inclusive properties in 70 countries across six continents. The Company’s offering includes the Park Hyatt®, Miraval®, Grand Hyatt®, Alila®, Andaz®, The Unbound Collection by Hyatt®, Destination by Hyatt™, Hyatt Regency®, Hyatt®, Hyatt Ziva™, Hyatt Zilara™, Thompson Hotels®, Hyatt Centric®, Caption by Hyatt, JdV by Hyatt™, Hyatt House®, Hyatt Place®, UrCove, and Hyatt Residence Club® brands, as well as resort and hotel brands under the AMR™ Collection, including Secrets® Resorts & Spas, Dreams® Resorts & Spas, Breathless Resorts & Spas®, Zoëtry® Wellness & Spa Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.

Franziska Weber
+1 312 780 6106
Hyatt



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