Hyatt Reports Fourth Quarter and Full Year 2024 Results
Hyatt Hotels (NYSE: H) reported its Q4 and full-year 2024 results, highlighting several key achievements. The company saw a 5.0% RevPAR growth in Q4 and 4.6% for the full year 2024. Net rooms growth reached 7.8% for 2024. The company reported a net loss of $56 million in Q4 but achieved a net income of $1,296 million for the full year.
Notable financial metrics include Adjusted EBITDA of $255 million in Q4 and $1,096 million for the full year. The company actively returned capital to shareholders, repurchasing approximately 8 million shares for $1,190 million and returning total $1,250 million through dividends and share repurchases in 2024.
For 2025, Hyatt projects RevPAR growth of 2.0% to 4.0%, net rooms growth of 6.0% to 7.0%, and Adjusted EBITDA between $1,100 million and $1,150 million. The company also announced plans to acquire Playa Hotels & Resorts for approximately $2.6 billion.
Hyatt Hotels (NYSE: H) ha riportato i risultati del quarto trimestre e dell'intero anno 2024, evidenziando diversi risultati chiave. L'azienda ha registrato una crescita del RevPAR del 5,0% nel quarto trimestre e del 4,6% per l'intero anno 2024. La crescita netta delle camere ha raggiunto un 7,8% per il 2024. L'azienda ha riportato una perdita netta di 56 milioni di dollari nel quarto trimestre, ma ha raggiunto un reddito netto di 1.296 milioni di dollari per l'intero anno.
I principali indicatori finanziari includono un EBITDA rettificato di 255 milioni di dollari nel quarto trimestre e di 1.096 milioni di dollari per l'intero anno. L'azienda ha attivamente restituito capitale agli azionisti, riacquistando circa 8 milioni di azioni per 1.190 milioni di dollari e restituendo un totale di 1.250 milioni di dollari tramite dividendi e riacquisti di azioni nel 2024.
Per il 2025, Hyatt prevede una crescita del RevPAR dal 2,0% al 4,0%, una crescita netta delle camere dal 6,0% al 7,0% e un EBITDA rettificato tra 1.100 milioni e 1.150 milioni di dollari. L'azienda ha anche annunciato piani per acquisire Playa Hotels & Resorts per circa 2,6 miliardi di dollari.
Hyatt Hotels (NYSE: H) informó sus resultados del cuarto trimestre y del año completo 2024, destacando varios logros clave. La compañía vio un crecimiento del RevPAR del 5,0% en el cuarto trimestre y del 4,6% para el año completo 2024. El crecimiento neto de habitaciones alcanzó un 7,8% para 2024. La compañía reportó una pérdida neta de 56 millones de dólares en el cuarto trimestre, pero logró un ingreso neto de 1.296 millones de dólares para el año completo.
Las métricas financieras notables incluyen un EBITDA ajustado de 255 millones de dólares en el cuarto trimestre y de 1.096 millones de dólares para el año completo. La compañía devolvió activamente capital a los accionistas, recomprando aproximadamente 8 millones de acciones por 1.190 millones de dólares y devolviendo un total de 1.250 millones de dólares a través de dividendos y recompras de acciones en 2024.
Para 2025, Hyatt proyecta un crecimiento del RevPAR del 2,0% al 4,0%, un crecimiento neto de habitaciones del 6,0% al 7,0%, y un EBITDA ajustado entre 1.100 millones y 1.150 millones de dólares. La compañía también anunció planes para adquirir Playa Hotels & Resorts por aproximadamente 2,6 mil millones de dólares.
하얏트 호텔 (NYSE: H)는 2024년 4분기 및 전체 연도 결과를 보고하며 여러 주요 성과를 강조했습니다. 회사는 4분기 동안 RevPAR 성장률 5.0%를 기록했으며, 2024년 전체 연도 동안 4.6%의 성장을 보였습니다. 2024년 순 객실 성장은 7.8%에 달했습니다. 회사는 4분기 동안 5,600만 달러의 순손실을 보고했지만, 전체 연도 동안 12억 9,600만 달러의 순이익을 달성했습니다.
주요 재무 지표로는 4분기 조정 EBITDA 2억 5,500만 달러와 전체 연도 동안 10억 9,600만 달러가 포함됩니다. 회사는 주주에게 자본을 적극적으로 반환하였으며, 약 800만 주를 11억 9,000만 달러에 재매입하고, 2024년 동안 배당금 및 주식 재매입을 통해 총 12억 5,000만 달러를 반환했습니다.
2025년을 위해 하얏트는 RevPAR 성장률 2.0%에서 4.0%, 순 객실 성장률 6.0%에서 7.0%, 조정 EBITDA를 11억 달러에서 11억 5,000만 달러 사이로 예상하고 있습니다. 또한, 하얏트는 Playa Hotels & Resorts를 약 26억 달러에 인수할 계획을 발표했습니다.
Hyatt Hotels (NYSE: H) a annoncé ses résultats pour le quatrième trimestre et l'année entière 2024, mettant en avant plusieurs réalisations clés. L'entreprise a enregistré une croissance du RevPAR de 5,0% au quatrième trimestre et de 4,6% pour l'année entière 2024. La croissance nette des chambres a atteint 7,8% pour 2024. L'entreprise a déclaré une perte nette de 56 millions de dollars au quatrième trimestre, mais a réalisé un revenu net de 1.296 millions de dollars pour l'année entière.
Les indicateurs financiers notables incluent un EBITDA ajusté de 255 millions de dollars au quatrième trimestre et de 1.096 millions de dollars pour l'année entière. L'entreprise a activement restitué du capital aux actionnaires, en rachetant environ 8 millions d'actions pour 1.190 millions de dollars et en restituant un total de 1.250 millions de dollars par le biais de dividendes et de rachats d'actions en 2024.
Pour 2025, Hyatt prévoit une croissance du RevPAR de 2,0% à 4,0%, une croissance nette des chambres de 6,0% à 7,0%, et un EBITDA ajusté entre 1.100 millions et 1.150 millions de dollars. L'entreprise a également annoncé des projets d'acquisition de Playa Hotels & Resorts pour environ 2,6 milliards de dollars.
Hyatt Hotels (NYSE: H) hat die Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und mehrere wichtige Erfolge hervorgehoben. Das Unternehmen verzeichnete ein RevPAR-Wachstum von 5,0% im vierten Quartal und 4,6% für das gesamte Jahr 2024. Das Netto-Wachstum der Zimmer erreichte 7,8% für 2024. Das Unternehmen meldete einen Nettoverlust von 56 Millionen Dollar im vierten Quartal, erzielte jedoch einen Nettogewinn von 1.296 Millionen Dollar für das gesamte Jahr.
Bemerkenswerte Finanzkennzahlen umfassen ein bereinigtes EBITDA von 255 Millionen Dollar im vierten Quartal und 1.096 Millionen Dollar für das gesamte Jahr. Das Unternehmen gab aktiv Kapital an die Aktionäre zurück, indem es etwa 8 Millionen Aktien für 1.190 Millionen Dollar zurückkaufte und insgesamt 1.250 Millionen Dollar durch Dividenden und Aktienrückkäufe im Jahr 2024 zurückgab.
Für 2025 prognostiziert Hyatt ein RevPAR-Wachstum von 2,0% bis 4,0%, ein Netto-Wachstum der Zimmer von 6,0% bis 7,0% und ein bereinigtes EBITDA zwischen 1.100 Millionen und 1.150 Millionen Dollar. Das Unternehmen kündigte außerdem Pläne an, Playa Hotels & Resorts für etwa 2,6 Milliarden Dollar zu erwerben.
- Strong full-year net income of $1,296 million
- Significant shareholder returns of $1,250 million through dividends and share repurchases
- 7.8% net rooms growth achieved in 2024
- RevPAR growth of 5.0% in Q4 and 4.6% for full year
- World of Hyatt loyalty program reached 54 million members
- Q4 net loss of $56 million
- Lower Q4 group demand due to Jewish holidays and U.S. election
- Flat RevPAR growth in Greater China
- Hurricane Milton impact on Distribution segment
- Projected lower RevPAR growth for 2025 (2.0-4.0%) compared to 2024
Insights
Hyatt's Q4 and FY2024 results reveal a strategic transformation towards an asset-light model, with the company projecting to exceed 90% asset-light earnings mix by 2027. The 7.8% net rooms growth significantly outperforms industry averages, demonstrating strong execution in expansion strategy.
The announced $2.6B Playa Hotels acquisition represents a pivotal move in the all-inclusive segment. While the deal will be initially funded through debt, the commitment to divest
The World of Hyatt loyalty program's growth to 54 million members is particularly significant, as loyalty programs drive direct bookings and reduce customer acquisition costs. This expansion, combined with 138,000 rooms in the development pipeline, creates a powerful network effect that should enhance fee generation.
The 2025 guidance of
The company's robust capital return program, including
Hyatt Full Year 2024 Infographic
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Comparable system-wide hotels RevPAR growth was
5.0% in the fourth quarter and4.6% for the full year of 2024, compared to the same periods in 2023
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Comparable system-wide all-inclusive resorts Net Package RevPAR growth was
2.9% in the fourth quarter and4.4% for the full year of 2024
-
Net rooms growth was
7.8% for the full year of 2024, in line with the full year outlook for 2024
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Net income (loss) was
$(56) million $1,296 million $40 million $375 million
-
Diluted EPS was
$(0.58) $12.65 $0.42 $3.66
-
Adjusted EBITDA was
$255 million $1,096 million
- Pipeline of executed management or franchise contracts was approximately 138,000 rooms
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Repurchased approximately 8 million shares of Class A and Class B common stock for an aggregate purchase price of
$1,190 million $1,250 million
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2025 full year comparable system-wide hotels RevPAR growth is projected to increase
2.0% to4.0% on a constant currency basis, compared to the full year of 2024
-
2025 full year net rooms growth is projected to be
6.0% to7.0% , compared to the full year of 2024
-
2025 full year net income is projected between
$190 million $240 million
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2025 full year Adjusted EBITDA is projected between
$1,100 million $1,150 million
Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said, "The purposeful evolution of our business model and strong brand focus has accelerated our network effect benefiting each of our stakeholders. Our fourth quarter results demonstrate the strength of our commercial offerings, as evidenced by the growth of the World of Hyatt loyalty program, which reached approximately 54 million members. Our operating results and industry leading net rooms growth allowed us to achieve record levels of gross fees while returning over
Fourth Quarter Results and Highlights
(in millions) |
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Three Months Ended December 31, |
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2024 |
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2023 |
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Change (%) |
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Management and franchising |
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$ |
219 |
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|
$ |
205 |
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|
7.2 |
% |
Owned and leased |
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|
57 |
|
|
|
90 |
|
|
(36.5 |
)% |
Distribution |
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|
20 |
|
|
|
6 |
|
|
199.6 |
% |
Overhead |
|
|
(41 |
) |
|
|
(52 |
) |
|
21.8 |
% |
Eliminations |
|
|
— |
|
|
|
— |
|
|
(51.4 |
)% |
Adjusted EBITDA |
|
$ |
255 |
|
|
$ |
249 |
|
|
2.4 |
% |
Adjusted EBITDA increased
-
Management and franchising: Results reflected strong business and leisure transient travel while group demand during the fourth quarter was impacted by the shift of the Jewish holidays and the
U.S. election in November. Inthe United States , performance was driven by the continued recovery in business transient travel.Greater China hotels RevPAR growth was flat to last year, a significant improvement from third quarter 2024 results as business transient travel benefited Mainland China hotels. International inbound travel continues to be a driver of growth inAsia Pacific excludingGreater China . -
Owned and leased: Adjusted EBITDA increased
5.1% in the fourth quarter, compared to the same period in 2023, when adjusted for the net impact of transactions. Comparable owned and leased margin increased to20.5% , up 70 bps, in the fourth quarter driven by strong rates compared to the same period in 2023. -
Distribution: Results for the fourth quarter were impacted by Hurricane Milton and lower booking volumes, partially offset by lower overhead costs. Excluding the impact of the UVC Transaction, Adjusted EBITDA decreased
$4 million
Openings and Development
In the fourth quarter, 81 new hotels (or 20,721 rooms) joined Hyatt's portfolio, inclusive of properties acquired through the Standard International and Bahia Principe transactions. Notable openings included Grand Hyatt Deer Valley, Dreams Madeira Resort Spa & Marina, Park Hyatt London River Thames, Thompson Palm Springs, and nine UrCove properties.
As of December 31, 2024, the Company had a pipeline of executed management or franchise contracts for approximately 720 hotels (or approximately 138,000 rooms), representing pipeline expansion of approximately
Transactions and Capital Strategy
During the fourth quarter of 2024, the Company:
-
Acquired Standard International, as previously announced, on October 1, 2024 for approximately
$150 million $185 million -
Closed the Bahia Principe Transaction on December 27, 2024 for
€359 million (approximately$374 million €60 million is payable at future dates. -
Completed the asset acquisition of three Alua properties on November 15, 2024 for
€117 million (approximately$123 million $53 million -
Sold Hyatt Regency O'Hare Chicago for gross proceeds of
$40 million $20 million $45 million - Sold its ownership interests in two unconsolidated hospitality ventures, Park Hyatt Los Cabos at Cabo Del Sol hotel and residences on December 13, 2024 and Hyatt Centric Downtown Nashville on December 17, 2024, and retained long-term management agreements.
On February 10, 2025, the Company announced it entered into an agreement to acquire all outstanding shares of Playa Hotels & Resorts N.V. ("Playa") for
Balance Sheet and Liquidity
As of December 31, 2024, the Company reported the following:
-
Total debt of
$3,782 million -
Pro rata share of unconsolidated hospitality venture debt of
$370 million -
Total liquidity of approximately
$2.9 billion $1,383 million $1,497 million
On November 20, 2024, the Company issued and sold
The Company repurchased a total of 69,194 shares of Class A common stock for approximately
The Company's board of directors has declared a cash dividend of
2025 Outlook
The Company is providing the following outlook for the 2025 fiscal year. Refer to slide 13 in the fourth quarter and full year 2024 investor presentation for Adjusted EBITDA outlook growth, adjusted for asset sales. The Company is not providing an outlook for capital returns to shareholders at this time due to the pending Playa Transaction.
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Full Year 2025 vs. 2024 |
System-Wide Hotels RevPAR1 Growth |
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Net Rooms Growth |
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(in millions) |
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Full Year 2025 |
Net Income |
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|
Gross Fees |
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|
Adjusted G&A Expenses2, 3 |
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Adjusted EBITDA2 |
|
|
Capital Expenditures |
|
Approx. |
Adjusted Free Cash Flow2 |
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|
1 RevPAR is based on constant currency whereby previous periods are translated based on the current period exchange rate. System-wide hotels RevPAR growth percentage for 2025 vs. 2024 is based on comparable hotels. |
2 Refer to the tables on schedule A-11 for a reconciliation of estimated net income attributable to Hyatt Hotels Corporation to Adjusted EBITDA, G&A expenses to Adjusted G&A Expenses, and net cash provided by operating activities to Free Cash Flow and Adjusted Free Cash Flow. |
3 During the year ended December 31, 2024, the Company revised its definition of Adjusted EBITDA to exclude transaction and integration costs and recast prior-period results to provide comparability. Refer to page A-6 of the schedules for additional detail. |
No disposition or acquisition activity beyond what has been completed as of the date of this release has been included in the 2025 Outlook. The Company's 2025 Outlook is based on a number of assumptions that are subject to change and many of which are outside the control of the Company. If actual results vary from these assumptions, the Company's expectations may change. There can be no assurance that Hyatt will achieve these results. |
Refer to the table on schedule A-8 for a summary of special items impacting Adjusted Net Income (Loss) and Adjusted Diluted EPS in the three months and year ended December 31, 2024 and December 31, 2023.
Note: All RevPAR growth and ADR growth percentage changes are in constant dollars. All Net Package RevPAR growth and Net Package ADR growth percentage changes are in reported dollars. This release includes references to non-GAAP financial measures. Refer to the non-GAAP reconciliations included in the schedules and the definitions of the non-GAAP measures presented beginning on schedule A-6.
Conference Call Information
The Company will hold an investor conference call this morning, February 13, 2025, at 9:00 a.m. CT.
Participants may listen to a simultaneous webcast of the conference call, which may be accessed through the Company's website at investors.hyatt.com. Alternatively, participants may access the live call by dialing: 800.715.9871 (
A replay of the call will be available Thursday, February 13, 2025 at 12:00 p.m. CT until Wednesday, February 19, 2025 at 10:59 p.m. CT by dialing: 800.770.2030 (
Forward-Looking Statements
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about the Company's plans, strategies, outlook, the number of properties we expect to open in the future, the expected timing and payment of dividends, the Company's 2025 outlook, including the Company's expected System-wide Hotels RevPAR Growth, Net Rooms Growth, Net Income, Gross Fees, Adjusted G&A Expenses, Adjusted EBITDA, Capital Expenditures, and Adjusted Free Cash Flow, the proposed Playa acquisition and our ability to consummate and finance the acquisition, method of financing the acquisition, outcomes of the proposed acquisition, including impact on asset-light earnings mix, our ability to reduce our owned real estate asset base within targeted timeframes and at expected values, financial performance, prospective or future events and involve known and unknown risks that are difficult to predict. As a result, the Company's actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "will," "would" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by the Company and the Company's management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the effects that the announcement or pendency of the proposed Playa acquisition may have on us, Playa and our respective business and ability to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom we or they do business; inability to obtain required regulatory or government approvals or to obtain such approvals on satisfactory conditions; inability to obtain sufficient stockholder tender of Playa ordinary shares, stockholder approval or to satisfy other closing conditions; inability to obtain financing; the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive agreement; the effects that any termination of the definitive agreement may have on us or our business; failure to successfully complete the proposed acquisition; legal proceedings that may be instituted related to the proposed acquisition; significant and unexpected costs, charges or expenses related to the proposed acquisition; risks associated with potential divestitures, including of Playa real estate or business; ability or failure to successfully integrate the acquisition with existing operations; ability to realize anticipated synergies or obtain the results anticipated; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geopolitical conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as hurricanes, earthquakes, tsunamis, tornadoes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; our ability to successfully achieve specified levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to maintain effective internal control over financial reporting and disclosure controls and procedures; declines in the value of our real estate assets; unforeseen terminations of our management and hotel services agreements or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and manage the Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations; and other risks discussed in the Company's filings with the SEC, including our annual reports on Form 10-K and quarterly reports on Form 10-Q, which filings are available from the SEC. All forward-looking statements attributable to the Company or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Non-GAAP Financial Measures
The Company refers to certain financial measures that are not recognized under
Availability of Information on Hyatt's Website and Social Media Channels
Investors and others should note that Hyatt routinely announces material information to investors and the marketplace using
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in
HHC-FIN
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Investor Contacts
Adam Rohman, 312.780.5834, adam.rohman@hyatt.com
Ryan Nuckols, 312.780.5784, ryan.nuckols@hyatt.com
Media Contact
Franziska Weber, 312.780.6106, franziska.weber@hyatt.com
Source: Hyatt Hotels Corporation
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