Hyatt's all-inclusive play pushes up its Q2 results
"RevPAR growth was strongest among our luxury brands, as high-end consumers continue to prioritize travel," Hyatt CEO Mark Hoplamazian told analysts during the company's earnings call on Aug. 7.
More than 70% of the group's portfolio plays in the upper upscale and luxury chain scales, he said.
The company's luxury brands saw RevPAR on individual leisure bookings increase about 6% in the quarter, while net-package RevPAR at all-inclusives, which calculates revenue inclusive of rooms, food and beverage and entertainment, rose 6% in the Americas.
Hyatt said it expected all-inclusives tailwinds to continue. CFO Joan Bottarini said that booking pace for Hyatt's Inclusive Collection in the Americas is up almost 5% for the third quarter, indicating "sustained demand for luxury all-inclusive travel for the remainder of the year."
The strength in high-end all-inclusive follows the recent completion of Hyatt's $2.6 billion acquisition of Playa Hotels & Resorts, with the company working to finalize its sale of Playa's owned real estate portfolio by the end of this year.
Softer business trends
Although Hoplamazian reported softer booking trends in the second quarter compared to Q1, Hyatt posted systemwide RevPAR growth of 1.6% in Q2. U.S. RevPAR for the quarter was essentially flat, down 0.1%.
Second-quarter leisure transient RevPAR was up 2.6% globally.
Business transient RevPAR was flat overall, but it declined 1.5% in the U.S., primarily due to weakness at select-service hotels.
Global group RevPAR in the quarter was up 0.3%, with group pace for full-service managed properties in the U.S. approximately flat compared to 2024 for the last half of the year.
Hyatt reaffirmed its full-year outlook of 1% to 3% RevPAR growth for 2025, with Hoplamazian expressing optimism about the near-term future.
"We're seeing an uptick in future bookings for both leisure and business transient travel," he said. "Our group and corporate customers have shared that travel continues to be a priority, especially for customer-facing meetings, and we expect U.S. RevPAR growth to improve after Labor Day."
Hyatt reported a second-quarter net loss of $3 million, compared to net income of $359 million in the prior year. Adjusted Ebitda was $303 million, marking a decline of 1.1% on the same quarter last year.
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