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CHICAGO -On Thursday, Hyatt Hotels Corporation (NYSE:H) reported fourth quarter 2024 earnings that fell short of analyst expectations, sending shares down -3.15% in pre-market trading.
The hotel chain posted adjusted earnings per share of $0.42, missing the consensus estimate of $0.79 by $0.37. Revenue for the quarter came in at $1.72 billion.
Comparable system-wide hotels RevPAR growth was 5.0% in the fourth quarter compared to the same period in 2023. Net rooms growth was 7.8% for the full year 2024, in line with the company’s outlook.
"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," said Mark S. Hoplamazian, President and CEO of Hyatt.
For the full year 2024, Hyatt reported net income of $1.3 billion and adjusted EBITDA of $1.1 billion. The company returned over $1.2 billion to shareholders through dividends and share repurchases during the year.
Looking ahead, Hyatt projects 2025 full year comparable system-wide hotels RevPAR growth of 2.0% to 4.0% and net rooms growth of 6.0% to 7.0%. The company expects 2025 adjusted EBITDA between $1.1 billion and $1.15 billion.
Hyatt also announced it has entered an agreement to acquire Playa Hotels & Resorts (NASDAQ:PLYA) for $13.50 per share, or approximately $2.6 billion including debt.
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