Loading...
•
Mar 31, 2023
Hyatt Q1 2023 Earnings Report
Hyatt's Q1 2023 financial results were reported, featuring a 50% increase in total fee revenue and a raised full-year RevPAR outlook.
Key Takeaways
Hyatt reported a net income of $58 million, a significant turnaround from the $73 million net loss in Q1 2022. Adjusted EBITDA reached $268 million, and comparable system-wide RevPAR increased by 42.9%. The company also repurchased 1.02 million shares for $106 million.
Net income was $58 million, compared to a net loss of $73 million in Q1 2022.
Adjusted EBITDA increased to $268 million from $169 million in the prior year.
Comparable system-wide RevPAR rose by 42.9% compared to Q1 2022.
Net Rooms Growth was approximately 7.0% in the first quarter of 2023.
Hyatt
Hyatt
Forward Guidance
The Company is providing the following guidance for full year 2023: System-Wide RevPAR112% to 16% Full Year 2023 vs. 2022Net Rooms GrowthApprox. 6.0%
Positive Outlook
- System-Wide RevPAR is expected to increase by 12% to 16% compared to 2022.
- Net Rooms Growth is projected to be approximately 6.0% for the full year 2023.
- Capital Expenditures are estimated to be approximately $200 million for the full year 2023.
- Total Adjusted SG&A is expected to be between $480 million and $490 million.
- One-Time Integration Costs are approximated at $15 million.