Latest news with #MarkHoplamazian
Yahoo
3 days ago
- Business
- Yahoo
Luxury drives Hyatt RevPAR growth in Q2
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Dive Brief: Hyatt Hotels posted global RevPAR growth of 1.6% year on year in the second quarter, driven in particular by luxury chain scales, according to an earnings report released Thursday. 'High-end consumers continue to prioritize travel,' CEO Mark Hoplamazian said on a Wednesday earnings call. Select service hotels in the U.S., however, saw RevPAR decline year on year in the quarter, which Hyatt attributed to the shift in timing of the Easter holiday. The earnings were in line with Hyatt's prior outlook. Hoplamazian said the company is 'encouraged by recent booking trends, leaving us optimistic about improving performance in the fourth quarter and into next year,' though lower chain scales will continue to underperform luxury. Dive Insight: At U.S. select service hotels, Hyatt's business transient travel RevPAR declined by 1.5% year on year in the quarter, though business transient RevPAR was up 'in the low single digits' for full-service properties, Hoplamazian shared on the call. 'Although booking trends in the second quarter were softer compared to the first quarter, we're seeing an uptick in future bookings for both leisure and business transient travel,' Hoplamazian said. During the second quarter, Hyatt opened 8,920 rooms, approximately 2,600 of which came from its acquisition of Playa Hotels & Resorts, which closed in June. Later that month, Hyatt sold real estate assets from the deal for $2 billion to Tortuga Resorts, which Hoplamazian said 'demonstrates our commitment to our asset-light business model while continuing to strengthen our brand portfolio and leadership in the luxury all-inclusive segment.' Hyatt expects that sale to close by the middle of the fourth quarter, Hoplamazian shared on the call. The company also launched its Unscripted by Hyatt brand in the quarter, which Hoplamazian said 'fills a key white space in Hyatt's portfolio, allowing us to grow in more markets and at an accelerated pace.' The CEO said Hyatt expects the brand to 'scale rapidly through conversions.' In the third quarter, Hyatt expects lower chain scales to continue to underperform luxury and international markets, in line with expectations the company shared during its first-quarter earnings call, CFO Joan Bottarini said on the call. Across chain scales, Hyatt expects its U.S. RevPAR growth to improve after Labor Day, per Hoplamazian. Higher chain scales are outperforming lower ones nationwide, according to a May report from JLL. Recommended Reading US hotel GOPPAR exceeds pre-pandemic levels Se produjo un error al recuperar la información Inicia sesión para acceder a tu portafolio Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información Se produjo un error al recuperar la información
Travel Weekly
4 days ago
- Business
- Travel Weekly
Hyatt's all-inclusive play pushes up its Q2 results
Despite broader market challenges, Hyatt Hotels Corp.'s luxury brands and all-inclusive resorts delivered exceptionally strong second-quarter results, the company said. "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.
Yahoo
4 days ago
- Business
- Yahoo
What's Going On With Hyatt Hotels Stock Thursday?
Hyatt Hotels Corporation (NYSE:H) shares are trading higher on Thursday. The company reported second-quarter adjusted earnings per share of 68 cents, beating the analyst consensus estimate of 65 cents. Quarterly sales of $1.81 billion outpaced the Street view of $1.73 billion. Comparable system-wide hotel revenue per available room, or RevPAR, increased 1.6%, compared to the second quarter of rooms grew 11.8% year over year, or 6.5% when excluding acquisitions. Gross fees totaled $301 million, up 9.5% from the second quarter of 2024. Adjusted EBITDA totaled $303 million in the second quarter, down 1.1% year over year but up 9.0% on a pro forma basis. The pipeline of executed management and franchise contracts reached about 140,000 rooms, an 8% increase from the prior year. Luxury chain scales drove RevPAR growth in the second quarter, while select service hotels in the United States saw RevPAR decline compared to the second quarter of 2024. RevPAR growth was negatively impacted by 60 bps due to the timing of the Easter holiday in the second quarter, which fell in the first quarter last year. 'The Playa transactions, including the agreement to sell the entirety of Playa's real estate portfolio, reinforce our commitment to our asset-light business model and solidifies our leadership in the fast-growing luxury all-inclusive segment,' said Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt. View more earnings on H During the second quarter, the company opened 8,920 rooms, including approximately 2,600 rooms acquired through the Playa Hotels acquisition. As of June 30, the company's total debt stood at $6.0 billion, which includes the $1.7 billion delayed-draw term loan facility. Its total liquidity was $2.4 billion, comprising $912 million of cash and equivalents, and short-term investments. The company declared a cash dividend of 15 cents per share for the third quarter of 2025. The dividend is payable on September 10. Outlook For fiscal year 2025, the company projects comparable system-wide hotel RevPAR growth of 1% to 3% versus fiscal 2024. Net rooms growth excluding acquisitions is expected to range from 6% to 7% year-over-year. The company forecasts net income between $135 million and $165 million for the year. Adjusted EBITDA is projected between $1.085 billion and $1.130 billion, representing a 7% to 11% increase on a pro forma basis excluding assets sold in 2024. Consolidated net rooms growth is expected in the range of 6.7% to 7.7%. Price Action: H shares are trading higher by 2.65% to $139.66 at last check Thursday. Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? HYATT HOTELS (H): Free Stock Analysis Report This article What's Going On With Hyatt Hotels Stock Thursday? originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Forbes
08-07-2025
- Business
- Forbes
Hyatt Hotels Shift Toward A More Brand-Focused Organization
Each brand becomes more amplified with unique personas. getty Hyatt Hotels Corporation announced a record pipeline of approximately 138,000 rooms as of year-end 2024, alongside a strategic brand realignment designed to enhance owner returns and accelerate growth. By evolving its brand architecture into five distinct portfolios – Luxury, Lifestyle, Inclusive, Classics and Essentials – Hyatt believes it is better positioned to serve the unique needs of its guests, customers and owners, while aligning expertise and resources to deliver exceptional value. "Hyatt's growth and strategic brand evolution reflect our commitment to creating long-term value for owners and driving the performance of our hotels by delivering distinctive experiences for travelers," says Mark Hoplamazian, President & Chief Executive Officer, Hyatt. "By focusing on this evolution, we are not only enhancing guest satisfaction but also strengthening our hotels' success and competitive advantage, driving preference among owners, guests, customers and World of Hyatt members." Lalvani says that the brands will come into clearer focus. Hyatt Hotels Hyatt's new Lifestyle President & Creative Director, Amar Lalvani , recently spoke about the decision to move in this direction. It means that both business and leisure guests will more clearly feel the distinction in design and experience delivery between our brands. Each will become more amplified with their unique personalities, occupying their own unique spaces, connecting with guests in unique ways, often the same guest depending on their mood. Whether it be the bold and irreverent 'anything but' standardness of The Standard, the juxtaposed classics done with a twist at Thompson, the locally enriching culture and environments of Andaz, the unabashed fun of Dream, the soulful sense of place of Bunkhouse or the privacy and generosity of The Manner, each of our brands will differentiate themselves more clearly from each other and anything else in the market. Each of the brands will differentiate themselves more clearly. Thompson Central Park As the brands come into clearer focus, they will manifest themselves across all guest touch points from design, restaurants and bars, room service, service style, music, lighting, cultural, uniforms, social and cultural programming, as well as wellness. Most importantly, though, it's the team we build in each hotel who are there day in and day out connecting with our guests that make the experience special. So we spend an enormous amount of time on talent selection and development. This has been a wonderful area of alignment with Hyatt and their purpose of caring for people so they can be their best. If we live that purpose, market share and profitability will follow. Each hotel brand will posses a unique character. Credit Thompson Palm Springs Describe some of your plans for creating hotels that change the social and cultural fabric of a market. One approach that I bring from my history with The Standard, Bunkhouse and now The Manner hotels is that each one is created with incredible attention to detail and care after understanding the social dynamics and micro location in each market. That understanding influences the design (including the selection of the interior designer), the restaurant and bar/nightlife offerings (including the selection of chefs or other collaborators), the playlists, the uniforms, the selection of the General Manager and the executive team, the retail program, the list goes on and on. This mentality along with the team that does this incredibly creative and painstaking work will now be applied to the entire Hyatt Lifestyle Group portfolio. It is this approach to development that created places that changed the social and cultural fabric of Brussels or Singapore to use two examples (we just opened The Standard, Brussels and The Standard, Singapore). This has been the case for The Standard throughout its history — where you think about what we did in the Meatpacking District, Kings Cross and Bangkok. And clearly Bunkhouse has done this very successfully as well in Austin, even a place like Todos Santos where Hotel San Cristobal became an unexpected anchor for that community. In fact, there we set up a pop-up hospitality school to the wonderful residents in hospitality. In terms of the future, we are bringing that same approach to an emerging expo district of Shanghai where we are opening our first Thompson hotel in Asia. Resorts will manifest themselves across all guest touch points. Credit Andaz Scottsdale A lot has gone into that hotel to connect the development and our team on the ground (most of whom have never been to a Thompson hotel or any lifestyle) to culturally relevant collaborators to bring the concept to life. The building itself, where we locate it, how we design it has an impact on the neighborhood. The lasting impact comes from the team that is there to bring the unique character we are known for along with the creative energy of our guests. MORE FROM FORBES Forbes The Uber-Rich Are Flocking To This Small Mountain Town By Roger Sands Forbes How To Best Experience The Great American Road Trip By Roger Sands
Yahoo
01-07-2025
- Business
- Yahoo
Hyatt offloads Playa real estate in $2B sale to Tortuga Resorts
This story was originally published on Hotel Dive. To receive daily news and insights, subscribe to our free daily Hotel Dive newsletter. Hyatt Hotels has entered a definitive agreement to sell its recently acquired Playa Hotels & Resorts real estate portfolio to Tortuga Resorts, a joint venture between an affiliate of Denver-based KSL Capital Partners and Mexico City investment firm Rodina, for $2 billion, the hotel company announced Monday. The portfolio, which Hyatt acquired less than two weeks ago, encompasses 15 all-inclusive resort properties across Mexico, the Dominican Republic and Jamaica. While Hyatt will no longer own the real estate, the hotel company will manage 13 of the 15 properties under 50-year management agreements with Tortuga. The Tortuga deal 'transforms the acquisition of Playa Hotels & Resorts into a fully asset-light transaction,' according to Hyatt CEO Mark Hoplamazian. This aligns with Hyatt's ongoing asset-light strategy, which has driven performance results for the hotel company in recent quarters. The real estate sale and subsequent management agreements increase Hyatt's fee-based earnings, according to Hoplamazian. The long-term management agreements are consistent with Hyatt's existing all-inclusive management fee structure, the hotel company detailed. Hyatt now expects to earn $60 million to $65 million of stabilized adjusted EBITDA in 2027, 'delivering value to shareholders that is accretive in the first full year' following the deal's closure, according to Hoplamazian. Following the real estate sale, Hyatt's net earnings from its $2.6 billion Playa acquisition totals approximately $555 million. Hyatt anticipates the transaction, which is subject to regulatory approval in Mexico and other conditions, to close by year-end. The transaction aligns with Hyatt's asset-light operating strategy, which has driven results for the company in recent quarters, Hoplamazian noted during previous earnings seasons. In October, Hoplamazian said the company's asset-light earnings model had led to the return of more than $1.2 billion to Hyatt shareholders in the first three quarters of 2024. His comment came shortly after Hyatt acquired Standard International, also in line with its asset-light strategy. Recommended Reading Peachtree hotel investment remains strong post rebrand Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
