Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) today reported second quarter 2023 financial results. Highlights include:

Net income was $68 million in the second quarter of 2023 compared to $206 million in the second quarter of 2022. Adjusted net income was $88 million in the second quarter of 2023 compared to $51 million in the second quarter of 2022. Net income in the second quarter of 2022 included $251 million of gains recognized on the sales of real estate.

Diluted EPS was $0.63 in the second quarter of 2023 compared to $1.85 in the second quarter of 2022. Adjusted Diluted EPS was $0.82 in the second quarter of 2023 compared to $0.46 in the second quarter of 2022.

Adjusted EBITDA was $273 million in the second quarter of 2023 compared to $255 million in the second quarter of 2022.

Adjusted EBITDA does not include Net Deferrals of $28 million and Net Financed Contracts of $14 million in the second quarter of 2023, and Net Deferrals of $25 million and Net Financed Contracts of $15 million, in the second quarter of 2022.

Comparable system-wide RevPAR increased 15.0% in the second quarter of 2023 compared to 2022

Comparable owned and leased hotels RevPAR increased 10.1% in the second quarter of 2023 compared to 2022. Comparable owned and leased hotels operating margins were 26.2% in the second quarter of 2023

Comparable All-inclusive Net Package RevPAR increased 9.5% in the second quarter of 2023 compared to 2022.

Net Rooms Growth was approximately 6.9% in the second quarter of 2023.

Pipeline of executed management or franchise contracts was approximately 119,000 rooms.

Shares repurchased was approximately 969 thousand shares for $108 million in the second quarter of 2023.

Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said,

"For the fifth consecutive quarter we posted record results demonstrating our unique positioning and continued momentum. System-wide RevPAR expanded 15% year-over-year, generating a record level of total fee revenue in the quarter. We updated our full year RevPAR outlook, and we expanded our pipeline to 119,000 rooms, representing approximately 40% of our existing portfolio. Our outlook remains optimistic, fueled by strong group booking activity during the quarter, resulting in 2024 group pace up 10%. We believe our increasing asset-light