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Jun 30, 2023
Hyatt Q2 2023 Earnings Report
Hyatt's Q2 2023 results were reported, demonstrating growth in key metrics.
Key Takeaways
Hyatt reported a net income of $68 million, with Adjusted EBITDA reaching $273 million. System-wide RevPAR increased by 15.0%, and net rooms growth was approximately 6.9%. The company updated its full-year RevPAR outlook and expanded its pipeline to 119,000 rooms.
Net income was $68 million, compared to $206 million in Q2 2022, which included $251 million in gains from real estate sales.
Adjusted EBITDA increased to $273 million, up from $255 million in the prior year.
System-wide RevPAR rose by 15.0% compared to 2022.
Net Rooms Growth reached approximately 6.9%.
Forward Guidance
The Company is providing the following guidance for full year 2023: System-Wide RevPAR 14% to 16% Net Rooms Growth Approx. 6.0% Net Income Approx. $215 Adjusted EBITDA $1,020 - $1,070 Net Deferrals Approx. $120 Net Financed Contracts Approx. $60 Total Adjusted SG&A $485 - $495 One-Time Integration Costs Approx. $20 Free Cash Flow Approx. $550 Capital Returns to Shareholders Approx. $500
Positive Outlook
- System-Wide RevPAR: 14% to 16%
- Net Rooms Growth: Approx. 6.0%
- Net Income: Approx. $215 million
- Adjusted EBITDA: $1,020 - $1,070 million
- Free Cash Flow: Approx. $550 million
Challenges Ahead
- Total Adjusted SG&A: $485 - $495 million
- One-Time Integration Costs: Approx. $20 million
- Net Deferrals: Approx. $120 million
- Net Financed Contracts: Approx. $60 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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