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Mar 31, 2024
Hyatt Q1 2024 Earnings Report
Hyatt reported first quarter 2024 results, with RevPAR and Net Rooms Growth increasing.
Key Takeaways
Hyatt's first quarter 2024 results showed positive momentum with a 5.5% increase in comparable system-wide hotels RevPAR and a 5.5% net rooms growth. The company reported a net income of $522 million and an adjusted EBITDA of $252 million.
Comparable system-wide hotels RevPAR increased by 5.5% compared to the same period in 2023.
Net Rooms Growth was approximately 5.5%.
Net Income was $522 million, and Adjusted Net Income was $75 million.
Adjusted EBITDA reached $252 million.
Hyatt
Hyatt
Forward Guidance
Hyatt provided its outlook for the full year 2024, projecting a RevPAR increase of 3% to 5% and an Adjusted EBITDA between $1,150 million and $1,190 million.
Positive Outlook
- Full year comparable system-wide hotels RevPAR is projected to increase 3% to 5% on a constant currency basis compared to full year 2023
- Full year Net Income is projected between $1,135 million and $1,195 million
- Full year Adjusted EBITDA is projected between $1,150 million and $1,190 million and is in line with previously provided 2024 Outlook when adjusting for $30 million of reduced Adjusted EBITDA due to transactions
- Full year Capital Returns to Shareholders is projected between $800 million and $850 million
- Net Rooms Growth 5.5% to 6.0%