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Sep 30, 2023
Hyatt Q3 2023 Earnings Report
Hyatt's Q3 2023 performance was driven by the strength in its core business, resulting in a tremendous quarter.
Key Takeaways
Hyatt reported a strong third quarter in 2023, with net income of $68 million and adjusted EBITDA of $247 million. The company saw an increase in comparable system-wide RevPAR by 8.9% and net rooms growth of approximately 6.2%. A record level of total fee revenue of $250 million was achieved.
Net Income was $68 million, up from $28 million in Q3 2022.
Adjusted EBITDA reached $247 million compared to $252 million in Q3 2022.
Comparable system-wide RevPAR increased by 8.9% compared to Q3 2022.
Net Rooms Growth was approximately 6.2%.
Hyatt
Hyatt
Forward Guidance
The Company is providing the following guidance for full year 2023:
Positive Outlook
- System-Wide RevPAR is expected to increase by 15% to 16%.
- Net Rooms Growth is projected to be approximately 6.0%.
- Net Income is expected to be approximately $210 million.
- Adjusted EBITDA is forecasted to be between $1,005 million and $1,025 million.
- Free Cash Flow is expected to be approximately $550 million.