Hyatt Reports Fourth Quarter 2013 Results

Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported fourth quarter 2013 financial results as follows:
  • Adjusted EBITDA was $178 million in the fourth quarter of 2013 compared to $147 million in the fourth quarter of 2012, an increase of 21.1%.
  • Adjusted for special items, net income attributable to Hyatt was $51 million, or $0.32 per share, during the fourth quarter of 2013 compared to net income attributable to Hyatt of $33 million, or $0.20 per share, during the fourth quarter of 2012.
  • Net income attributable to Hyatt was $32 million, or $0.20 per share, during the fourth quarter of 2013 compared to net income attributable to Hyatt of $16 million, or $0.09 per share, in the fourth quarter of 2012.
  • Comparable owned and leased hotel RevPAR increased 6.2% (5.9% excluding the effect of currency) in the fourth quarter of 2013 compared to the fourth quarter of 2012.
  • Comparable owned and leased hotel operating margins increased 60 basis points in the fourth quarter of 2013 compared to the same period in 2012. Owned and leased hotel operating margins increased 110 basis points in the fourth quarter of 2013 compared to the fourth quarter of 2012.
  • Comparable systemwide RevPAR increased 4.2% (5.9% excluding the effect of currency) in the fourth quarter of 2013 compared to the fourth quarter of 2012.
  • Comparable U.S. full service hotel RevPAR increased 7.0% in the fourth quarter of 2013 compared to the fourth quarter of 2012. Comparable U.S. select service hotel RevPAR increased 4.0% in the fourth quarter of 2013 compared to the fourth quarter of 2012.
  • Sixteen properties were opened. As of December 31, 2013, the Company's executed contract base consisted of approximately 240 hotels or approximately 54,000 rooms.
  • The Company repurchased 468,679 shares of common stock at a weighted average price of $48.12 per share, for an aggregate purchase price of approximately $23 million.

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "In the fourth quarter, we continued to see positive demand trends among both transient and group travelers, particularly in the Americas. This is leading to continued rate improvement across our brands.

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