Hyatt reports Q3 adjusted EPS 70c, consensus 60c

Reports comparable system-wide RevPAR increased 8.9% in the third quarter of 2023 compared to 2022. Comparable owned and leased hotels RevPAR increased 6.3% in the third quarter of 2023 compared to 2022. Comparable owned and leased hotels operating margins were 23.5% in the third quarter of 2023. Comparable All-inclusive Net Package RevPAR increased 8.6% in the third quarter of 2023 compared to 2022. Net Rooms Growth was approximately 6.2% in the third quarter of 2023. Mark Hoplamazian, President and CEO of Hyatt, said, “We had a tremendous quarter, largely driven by the strength in our core business. Our third quarter performance contributed to a 25% improvement in total fees for the first nine months of the year compared to 2022. We expect strong fee growth to continue, fueled by our record pipeline of 123,000 rooms and higher levels of conversion opportunities combined with robust demand for travel around the globe. We continue to successfully execute our asset-light transformation and growth strategy while returning meaningful capital to shareholders.”