Hyatt Hotels Corporation | May 05, 2023
CHICAGO (May 4, 2023) – Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported first quarter 2023 financial results. Highlights include:
- Net income was $58 million in the first quarter of 2023 compared to net loss of $73 million in the first quarter of 2022. Adjusted net income was $45 million in the first quarter of 2023 compared to Adjusted net loss of $36 million in the first quarter of 2022.
- Diluted EPS was $0.53 in the first quarter of 2023 compared to $(0.67) in the first quarter of 2022. Adjusted Diluted EPS was $0.41 in the first quarter of 2023 compared to $(0.33) in the first quarter of 2022.
- Adjusted EBITDA was $268 million in the first quarter of 2023 compared to $169 million in the first quarter of 2022.
- Adjusted EBITDA does not include Net Deferrals of $31 million and Net Financed Contracts of $17 million in the first quarter of 2023, and Net Deferrals of $24 million and Net Financed Contracts of $7 million, in the first quarter of 2022.
- Comparable system-wide RevPAR increased 42.9% in the first quarter of 2023 compared to 2022.
- Comparable owned and leased hotels RevPAR increased 52.9% in the first quarter of 2023 compared to 2022. Comparable owned and leased hotels operating margin improved to 25.9% in the first quarter of 2023.
- Comparable All-inclusive Net Package RevPAR increased 33.2% in the first quarter of 2023 compared to 2022.
- Net Rooms Growth was approximately 7.0% in the first quarter of 2023.
- Pipeline of executed management or franchise contracts was approximately 117,000 rooms.
- Share repurchase activity was approximately 1.02 million shares repurchased for $106 million in the first quarter of 2023.
Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said, “For the fourth consecutive quarter we posted record results that exceeded our expectations, demonstrating our unique positioning and differentiated model. We raised our full year RevPAR outlook while maintaining our record level pipeline and industry leading net rooms growth. During the quarter, the recovery in Asia Pacific was particularly remarkable with broad improvements across the region. We continue to experience favorable booking trends and our outlook remains optimistic.”
