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Mar 31, 2022
Hyatt Q1 2022 Earnings Report
Hyatt's Q1 2022 financial performance reflected a strong recovery, driven by leisure demand and the acquisition of Apple Leisure Group.
Key Takeaways
Hyatt Hotels Corporation reported first quarter 2022 financial results with a net loss of $73 million, but Adjusted EBITDA increased to $169 million. System-wide RevPAR increased 107%, and the company made significant progress on its asset disposition commitment.
Net loss decreased to $73 million from a loss of $304 million year-over-year.
Adjusted EBITDA increased to $169 million from a loss of $20 million year-over-year, including a $56 million contribution from Apple Leisure Group (ALG).
System-wide RevPAR increased 107% to $93.98, and U.S. hotel RevPAR increased 126% to $104.45.
Over 40% of $2.0B asset disposition commitment closed or under contract.
Forward Guidance
The Company is revising the following information for the 2022 fiscal year: Capital expenditures are expected to be approximately $210 million. The Company is reaffirming the following information for the 2022 fiscal year: Adjusted selling, general, and administrative expenses are expected to be approximately $460 million to $465 million. The Company expects to grow net rooms by approximately 6.0%.
Positive Outlook
- Comparable system-wide RevPAR progressed meaningfully during the first four months of the year, January was 37% below 2019 and improved to 9% below 2019 in April.
- The Americas and EAME/SW Asia regions exceeded 2019 RevPAR in April by 3% and 1%, respectively.
- System-wide average daily rate exceeded 2019 by approximately 10% in April driven by luxury brands in the Americas, which exceeded 2019 by approximately 30%.
- Forward booking trends also continue to strengthen. System-wide comparable gross transient revenue booked for future periods was approximately 1% below 2019 in April or approximately 6% above 2019 when excluding Greater China.
- Gross group room revenue booked for stay dates in 2022 for comparable Americas Full Service Managed properties was 42% above 2019 in April.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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