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Jun 30, 2024
Hyatt Q2 2024 Earnings Report
Reported solid second quarter results with RevPAR growth and net rooms growth, generating record gross fee revenue. Pipeline reached a new record, reflecting strong developer interest. Membership of World of Hyatt loyalty program increased.
Key Takeaways
Hyatt Hotels Corporation reported a strong second quarter in 2024, with comparable system-wide hotels RevPAR increasing by 4.7% and net rooms growth of 4.6%. The company generated record gross fee revenue of $275 million and Adjusted EBITDA of $307 million. The pipeline reached a new record of 130,000 rooms, and World of Hyatt loyalty program membership increased by 21% year-over-year.
Comparable system-wide hotels RevPAR increased 4.7% compared to the same period in 2023.
Net Rooms Growth was approximately 4.6%.
Net Income was $359 million and Adjusted Net Income was $158 million.
Adjusted EBITDA was $307 million.
Hyatt
Hyatt
Forward Guidance
The Company is providing the following outlook for the 2024 fiscal year:
Positive Outlook
- Full year comparable system-wide hotels RevPAR is projected to increase 3.0% to 4.0% on a constant currency basis compared to full year 2023
- Full year Net Income is projected between $1,055 million and $1,115 million
- Full year Adjusted EBITDA is projected between $1,135 million and $1,175 million
- Full year Capital Returns to Shareholders is projected between $800 million and $850 million
- Full year Net Rooms Growth 5.5% to 6.0%