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Sep 30, 2024
Hyatt Q3 2024 Earnings Report
Reported solid results driven by strong business transient and group travel demand, and strategic capital allocation.
Key Takeaways
Hyatt reported strong third quarter results with a RevPAR increase of 3.0% and net rooms growth of 4.3%. The company's pipeline reached a new record of 135,000 rooms, and World of Hyatt membership expanded to 51 million members. Hyatt also completed its 2021 asset-disposition commitment and acquired Standard International.
Comparable system-wide hotels RevPAR increased 3.0% compared to the same period in 2023.
Net Rooms Growth was approximately 4.3%.
Adjusted EBITDA was $275 million.
Pipeline of executed management or franchise contracts was approximately 135,000 rooms.
Hyatt
Hyatt
Forward Guidance
The Company is providing the following updated 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 $1,400 million and $1,450 million
- Full year Adjusted EBITDA is projected between $1,100 million and $1,120 million
- Full year Capital Returns to Shareholders is projected to be approximately $1,250 million
- Net Rooms Growth between 7.75% to 8.25%