Hyatt Reports Fourth Quarter and Full Year 2022 Results

Hyatt Hotels Corporation reported fourth quarter and full year 2022 financial results. Highlights include:

• Net income was $294 million in the fourth quarter and $455 million for the full year of 2022. Adjusted net income was $278 million in the fourth quarter and $365 million for the full year of 2022. Net income in the fourth quarter and for the full year of 2022 includes a non-cash benefit of $250 million due to the release of a valuation allowance on U.S. federal and state deferred taxes.

• Diluted EPS was $2.69 in the fourth quarter and $4.09 for the full year of 2022. Adjusted Diluted EPS was $2.55 in the fourth quarter and $3.28 for the full year of 2022.

• Adjusted EBITDA was $232 million in the fourth quarter and $908 million for the full year of 2022. Apple Leisure Group ("ALG") contributed $43 million of Adjusted EBITDA in the fourth quarter and $231 million for the full year of 2022.

  • Adjusted EBITDA does not include ALG's Net Deferrals of $28 million and $94 million, and Net Financed Contracts of $15 million and $63 million, in the fourth quarter and for the full year of 2022, respectively.

• Comparable system-wide RevPAR increased 34.8% in the fourth quarter and 60.2% for the full year of 2022, compared to 2021.

• Comparable owned and leased hotels RevPAR increased 41.7% in the fourth quarter and 87.6% for the full year of 2022, compared to 2021. Comparable owned and leased hotels operating margin improved to 27.9% in the fourth quarter and to 27.1% for the full year of 2022.

• All-inclusive Net Package RevPAR was $190.64 in the fourth quarter and $187.28 for the full year of 2022.

• Net Rooms Growth was 6.7% for the full year of 2022.

• Pipeline of executed management or franchise contracts was approximately 117,000 rooms, inclusive of ALG's pipeline contribution of 8,000 rooms.

• Share repurchase activity was approximately 1.15 million shares repurchased for $106 million in the fourth quarter and approximately 4.23 million shares repurchased for $369 million for the full year of 2022.

Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said, "Our results in the fourth quarter mark the completion of a truly transformative year. We generated a record level of fees and free cash flow while leading the industry in organic growth for a sixth consecutive year. This outcome is a direct result of successfully executing on our asset-light growth strategy. We continue to experience positive momentum in the markets in which we operate and are optimistic about the year ahead."

NEWS | Leisure Demand Continues to Drive Hyatt's Brand Growth in Europe

Hyatt’s diverse brand portfolio reflects sustained growth, fueled largely by its independent collection and lifestyle brands

CHICAGO (September 7, 2021) – Hyatt Hotels Corporation (NYSE: H) today announced that a Hyatt affiliate has entered into six new management and franchise agreements for hotels in Europe across The Unbound Collection by Hyatt, JdV by Hyatt, Hyatt Centric, and Hyatt Regency brands, further emphasizing a growing desire from travelers, World of Hyatt members, and owners for hotels that offer unique, differentiated experiences and foster genuine connections with people and cultures.

Today’s announcement builds on Hyatt’s growth strategy to significantly expand its brand portfolio in Europe by the end of 2023 – the six new executed agreements are expected to increase Hyatt’s brand presence in France, Germany, Italy, Spain, and Switzerland. This is in addition to the recently announced planned acquisition of Apple Leisure Group (ALG), which is expected to expand Hyatt’s European brand footprint by 60 percent.

“The newly executed agreements highlight the positive strides we are making towards our growth strategy in Europe, and the new projects sit alongside a strong pipeline of Hyatt-branded hotels scheduled to open over the coming years,” said Felicity Black-Roberts, Hyatt’s vice president development, Europe. “Confidence in the hospitality sector remains high among investors, and we are delighted to collaborate with leading owners and operators who recognize the value and profitability of Hyatt’s entire brand portfolio, with an emphasis on Hyatt’s independent collections, including The Unbound Collection by Hyatt and JdV by Hyatt brands, and lifestyle brands, including Hyatt Centric. With these new deals, we are asserting our expertise in leisure destinations, reinforcing that Hyatt’s brands continue to resonate and cater to leisure travelers.”

Newly executed deals include:

The Unbound Collection by Hyatt

The Unbound Collection by Hyatt hotel in Crans-Montana, Switzerland

The luxurious boutique hotel Rhodania in the Swiss Alps is expected to join The Unbound Collection by Hyatt in 2023. The 41-room hotel is currently located right on the third tee of the famous Severiano Ballesteros golf course, approximately 4,900 feet (1,500 meters) above sea level in one of the most prestigious and well-established year-round mountain destinations in Switzerland. The region is also well known for its wealth of sporting options, including skiing, mountain biking, hiking and golfing; one of the most renowned golf tournaments played on European soil takes place in Crans-Montana each year. The hotel is expected to deliver on the brand’s mission of providing experiences that inspire unforgettable memories for guests seeking elevated yet unscripted service when they travel. Inside the hotel, the rooms and suites will be characterized by their elegant and luxurious décor. The hotel’s food and beverage outlets will offer high-quality local products and regional cuisine at both the main restaurant and the Swiss Chalet, creating unique dining experiences for worldly, independent-minded guests.

Hyatt News | Thompson Hollywood Debuts in the Heart of Los Angeles

The 190-Room Property Expands Thompson Hotels' West Coast Footprint with Interior Design by Tara Bernerd & Partners, Signature Dining Concepts from Acclaimed Chef Lincoln Carson, the Bar Lis Rooftop Lounge and Beyond

(CHICAGO)  August 9, 2021 –– Hyatt Hotels Corporation (NYSE: H) is proud to announce the debut of Thompson Hollywood, the luxury lifestyle hotel situated on Wilcox Avenue near Hollywood and Vine. A dynamic mix of global sophistication, hyper-local immersion and intuitive service, the prime location embodies the Thompson Hotels brand’s promise to provide guests with the ultimate “in-the-know” experience at the refined edge of travel. The new 11-story hotel features 190 mid-century-inspired guestrooms, including 16 suites, a sophisticated feature dining concept from acclaimed LA-based chef Lincoln Carson and Bar Lis, a destination rooftop lounge and pool with unparalleled city views. Sure to be a gathering spot for tasteful travelers and the eclectic Hollywood community alike, the much-anticipated project is owned by Relevant Group in collaboration with Steinberg Hart for architecture and interior design by Tara Bernerd & Partners, with Ten Five Hospitality overseeing food and beverage.

Thoughtfully designed by renowned London-based interior architecture studio Tara Bernerd & Partners, the 11-floor hotel innovatively combines the hallmarks of timeless elegance with a raw industrial edge to create a unique atmosphere that is relaxing and inspiring, familiar and new.  The overall design is bold and confident, drawing upon the West Coast Modernist movement and a dash of Hollywood glamour as inspirations toseamlessly blend for a contemporary and elegant approach throughout.

Upon entry, a trellis-covered walkway beckons guests to a lobby adorned in mid-toned timber and teeming with verdant greenery, forming a tranquil and welcoming haven upon arrival. A spectacular custom terrazzo floor awaits guests underfoot, featuring an intricate metal inlay pattern that perfectly complements the elegant mid-century and contemporary furniture, bespoke Tara Bernerd & Partners rugs and inviting terrazzo reception desk. The convenient lobby bar - topped with a striking retro-green onyx - serves up coffee, cocktails or casual bites for those coming, going or staying to socialize, all with the laid-back hospitality and inclusive spirit emblematic of the Thompson Hotels brand’s desire to ensure everyone who walks through the doors feels more like a resident than a guest.