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Hyatt Reports Fourth Quarter 2012 Results

Stocks in this article: H

Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported fourth quarter 2012 financial results as follows:

  • Adjusted EBITDA was $147 million in the fourth quarter of 2012 compared to $143 million in the fourth quarter of 2011, an increase of 2.8%.
  • Net income attributable to Hyatt was $16 million, or $0.09 per share, during the fourth quarter of 2012 compared to net income attributable to Hyatt of $52 million, or $0.31 per share, in the fourth quarter of 2011. Adjusted for special items, net income attributable to Hyatt was $33 million, or $0.20 per share, during the fourth quarter of 2012 compared to net income attributable to Hyatt of $52 million, or $0.31 per share, during the fourth quarter of 2011. See the table on page 3 of the accompanying schedules for a summary of special items.
  • Comparable owned and leased hotel RevPAR increased 7.5% in the fourth quarter of 2012 compared to the fourth quarter of 2011.
  • Owned and leased hotel operating margins decreased 10 basis points in the fourth quarter of 2012 compared to the fourth quarter of 2011. Comparable owned and leased hotel operating margins decreased 110 basis points in the fourth quarter of 2012 compared to the same period in 2011. See the table on page 9 of the accompanying schedules for a reconciliation of comparable owned and leased hotel operating margin to owned and leased hotel operating margin.
  • Comparable U.S. full service hotel RevPAR increased 5.8% in the fourth quarter of 2012 compared to the fourth quarter of 2011. Comparable U.S. select service hotel RevPAR increased 8.7% in the fourth quarter of 2012 compared to the fourth quarter of 2011.
  • Six properties were opened.
  • The Company repurchased 2,779,038 shares of Class A common stock at a weighted average price of $36.34 per share, for an aggregate purchase price of approximately $101 million.

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “During the fourth quarter, our comparable owned and leased RevPAR increased 7.5% as we benefited from solid demand and to a limited extent from renovations completed in prior periods.

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