Loading...
•
Jun 30, 2020
Hyatt Q2 2020 Earnings Report
Hyatt's operations were adapted to the COVID-19 pandemic environment, with Greater China leading the recovery.
Key Takeaways
Hyatt Hotels Corporation reported a net loss of $236 million for the second quarter of 2020, a significant decrease compared to the net income of $86 million in the second quarter of 2019. The company's performance was heavily impacted by the COVID-19 pandemic, with comparable system-wide RevPAR decreasing by 89.4%.
Net loss attributable to Hyatt was $236 million.
Adjusted EBITDA decreased 154.6% to $(117) million.
Cash and cash equivalents totaled $1,438 million.
Comparable system-wide RevPAR decreased 89.4%.
Hyatt
Hyatt
Forward Guidance
There remains uncertainty regarding the full return of hotel demand to pre-COVID-19 levels.
Positive Outlook
- Demand progression has been seen in China.
- Demand progression has been seen in certain markets in the U.S.
- Demand progression has been seen in other parts of the world.
- Teams are prepared for varied recovery scenarios.
- Continuously evolving new ways of operating that reduce the occupancy levels that are required to break even at the hotel operating level.