Hyatt Reports Second Quarter 2013 Results

Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported second quarter 2013 financial results as follows:
  • Adjusted EBITDA was $212 million in the second quarter of 2013 compared to $180 million in the second quarter of 2012, an increase of 17.8%.
  • Adjusted for special items, net income attributable to Hyatt was $70 million, or $0.43 per share, during the second quarter of 2013 compared to net income attributable to Hyatt of $39 million, or $0.24 per share, during the second quarter of 2012.
  • Net income attributable to Hyatt was $112 million, or $0.70 per share, during the second quarter of 2013 compared to net income attributable to Hyatt of $39 million, or $0.24 per share, in the second quarter of 2012.
  • Comparable owned and leased hotel RevPAR increased 7.1% (7.1% excluding the effect of currency) in the second quarter of 2013 compared to the second quarter of 2012.
  • Owned and leased hotel operating margins increased 150 basis points in the second quarter of 2013 compared to the second quarter of 2012. Comparable owned and leased hotel operating margins increased 230 basis points in the second quarter of 2013 compared to the second quarter of 2012.
  • Comparable systemwide RevPAR increased 3.9% (4.6% excluding the effect of currency) in the second quarter of 2013 compared to the second quarter of 2012.
  • Comparable U.S. full service hotel RevPAR increased 6.1% in the second quarter of 2013 compared to the second quarter of 2012. Comparable U.S. select service hotel RevPAR increased 6.0% in the second quarter of 2013 compared to the second quarter of 2012.
  • Sixteen properties were opened. As of June 30, 2013, the Company's executed contract base consisted of approximately 200 hotels or 45,000 rooms.
  • The Company repurchased 4,768,636 shares of common stock at a weighted average price of $41.10 per share, for an aggregate purchase price of approximately $196 million.

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "Our second quarter of 2013 reflected ongoing positive trends in transient demand at U.S. hotels and strong average daily rate progression.

If you liked this article you might like

Bahamas Hyatt Hotel to Guests: If Hurricane Irma Hits, Get Out

Spain Terror Attack Sends Ripples Through Travel, Leisure Stocks

10 Sectors That Will Profit Big-Time From Oil's Crash

Hyatt Threatens to Leave Expedia This Summer