CHICAGO, IL – February 17, 2022 – Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported fourth quarter and full-year 2021 financial results. Net loss attributable to Hyatt was $29 million, or $0.26 per diluted share, in the fourth quarter of 2021, compared to net loss attributable to Hyatt of $203 million, or $2.00 per diluted share, in the fourth quarter of 2020. Adjusted net loss attributable to Hyatt was $306 million, or $2.78 per diluted share, in the fourth quarter of 2021, compared to Adjusted net loss attributable to Hyatt of $179 million, or $1.77 per diluted share, in the fourth quarter of 2020. Refer to the table on page 15 of the schedules for a summary of special items impacting Adjusted net loss and Adjusted losses per share in the three months ended December 31, 2021 and December 31, 2020.
“2021 was a transformative year for our company,” said Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt Hotels Corporation. “We completed the largest acquisition in the history of Hyatt with Apple Leisure Group, realized approximately $630 million of gross proceeds from owned hotel dispositions, and had another year of industry leading Net Rooms Growth driven by a record year of new hotel openings.” Mr. Hoplamazian added, “The performance of our core business continues to strengthen, fueled by recovering demand and excellent operational execution.”
On November 1, 2021, the Company completed the acquisition of Apple Leisure Group (“ALG”). Fourth quarter and full-year 2021 financial results reflect two months of ALG performance. ALG’s contribution to Adjusted EBITDA does not include Net Deferrals and Net Financed Contracts.
Fourth quarter 2021 financial results as compared to the fourth quarter 2020 are as follows:
- Net loss decreased to $29 million from a loss of $203 million.
- Adjusted EBITDA increased to $112 million from a loss of $98 million.
- ALG contributed $4 million of Adjusted EBITDA.
- Adjusted EBITDA does not include ALG’s Net Deferrals of $19 million and Net Financed Contracts of $8 million.
- Comparable system-wide RevPAR increased to $96.75 in the fourth quarter of 2021 and decreased 26.1% compared to the fourth quarter of 2019 on a reported basis.
- Comparable owned and leased hotels operating margins were 24.8% in the fourth quarter of 2021.
Fiscal year 2021 financial results as compared to fiscal year 2020 are as follows:
- Net loss decreased to $222 million from a loss of $703 million.
- Adjusted EBITDA increased to $257 million from a loss of $177 million.
- ALG contributed $4 million of Adjusted EBITDA.
- Adjusted EBITDA does not include ALG’s Net Deferrals of $19 million and Net Financed Contracts of $8 million.
- Comparable system-wide RevPAR increased to $77.80 in fiscal year 2021 and decreased 42.9% compared to fiscal year 2019 on a reported basis.
- System-wide Net Rooms Growth was 19.5% in 2021. Excluding the acquisition of ALG, Net Rooms Growth was 6.1%.
- The pipeline of executed management or franchise contracts increased 12% to approximately 113,000 rooms. Excluding the acquisition of ALG, the pipeline increased 3% to approximately 104,000 rooms.
Mr. Hoplamazian added,
“We opened 99 Hyatt hotels in 2021, a new record, excluding ALG’s contribution. Our strong organic growth paired with the acquisitions of ALG this past year and Two Roads in 2018 have transformed our portfolio. We have doubled the number of luxury rooms, tripled the number of lifestyle rooms, and tripled the number of resort rooms in only four years. Our portfolio is uniquely positioned to benefit from the strengthening demand environment ahead, especially for our high-end travelers.”
View full results here.
