Published on : Wednesday, May 4, 2016
Hyatt Hotels Corporation today reported first quarter 2016 financial results. Net income attributable to Hyatt was $34 million, or $0.25 per share, during the first quarter of 2016, compared to $22 million, or $0.15 per share, in the first quarter of 2015. Adjusted for special items, net income attributable to Hyatt was $34 million, or $0.25 per share,during the first quarter of 2016 compared to $17 million, or $0.11 per share, during the first quarter of 2015.
Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “We are pleased with our solid start to the year and encouraged by positive trends in our business. First quarter Adjusted EBITDA grew 9%, excluding the impact of transactions and foreign currency translation, driven by broad-based market share gains, robust performance at our select service hotels and disciplined cost management. Based on current trends, we remain confident in our ability to achieve comparable systemwide RevPAR growth of 3.0% to 5.0% for the year.”
First quarter 2016 financial highlights as compared to the first quarter of 2015 are as follows:
• Adjusted EBITDA increased 4.9% to $194 million, up 7.2% in constant currency.
• Comparable systemwide RevPAR increased 2.2%, including an increase of 3.7% at comparable
owned and leased hotels.
• Comparable U.S. full service and select service hotel RevPAR increased 1.7% and 6.5%,
• Net hotel and net rooms growth was 9% and 7%, respectively.
• Comparable owned and leased hotels operating margins were stable at 25.0%.
Mr. Hoplamazian continued, “Our first quarter results reflect solid progress towards our goal to become the most preferred hospitality brand, as we gained RevPAR market share in each of our segments. Despite headwinds from holiday shifts, comparable systemwide RevPAR grew 2.2% in the quarter. This included a 3.7% RevPAR increase at comparable owned and leased hotels, which also grew market share over the quarter, demonstrating the quality of our owned and leased portfolio. Operating results were also strong at
our select service hotels, with RevPAR growth of 6.8% in the Americas and market share gains at nearly two-thirds of our select service properties over the quarter.