Hyatt Hits Records for Fee Revenue, Development, and Loyalty in Q2

Hyatt Hotels Corporation set new records in its second-quarter financial statement, achieving the highest levels in fee revenue, development pipeline, and World of Hyatt loyalty program membership.

Record Fee Revenue and Financial Performance
Hyatt saw a notable 4.7% increase in system-wide RevPAR (revenue per available room) compared to Q2 2023, accompanied by a 4.6% net rooms growth. These achievements contributed to a record $275 million in fee revenue for the quarter. Hyatt’s net income for the period was $359 million, with an adjusted EBITDA of $307 million. Shareholders earned $3.46 per diluted share, and the company anticipates full-year capital returns of $800 to $850 million.

Growth in Development Pipeline
The company’s development pipeline reached an all-time high, growing 9% year-over-year to 130,000 rooms across approximately 670 hotels and resorts. During the second quarter, Hyatt added 18 new hotels, adding 3,251 rooms to its portfolio. Notable new openings include Caption by Hyatt Namba Osaka, The Legend Paracas Resort, and Maison Métier.

Expansion of World of Hyatt Loyalty Program
Hyatt’s World of Hyatt loyalty program also achieved a record milestone, reaching 48 million members, a 21% increase from the previous year. Members can now earn and redeem rewards points at the me and all hotels brand and Under Canvas.

CEO Comments and Future Outlook
Mark S. Hoplamazian, President and CEO of Hyatt, praised the results: “We posted solid second-quarter results demonstrating our differentiated positioning and continued momentum. The record gross fee revenue of $275 million and the development pipeline growth to 130,000 rooms reflect strong developer interest in our brands. The World of Hyatt program’s growth to 48 million members further underscores our success.” Looking ahead, Hyatt projects a full-year net income between $1.055 billion and $1.115 billion, with system-wide RevPAR growth of 3-4% and net rooms growth of 5.5-6%.