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Hyatt
🇺🇸 NYSE:H
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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.

Total Revenue
$1.28B
Previous year: $438M
+192.0%
EPS
-$0.33
Previous year: -$3.57
-90.8%
Net Rooms Growth
18.6%
Previous year: 6.5%
+186.2%
Adjusted EBITDA
$169M
Previous year: -$20M
-945.0%
System-wide RevPAR
93.98%
Previous year: 45.78%
+105.3%
Gross Profit
$252M
Previous year: $14M
+1700.0%
Cash and Equivalents
$1.02B
Previous year: $1.08B
-5.1%
Free Cash Flow
$137M
Previous year: -$110M
-224.5%
Total Assets
$12.7B
Previous year: $3.24B
+291.4%

Hyatt

Hyatt

Hyatt Revenue by Segment

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.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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