Hyatt reveals impressive 2023 performance highlights amidst earnings release postponement

Thursday, February 15, 2024

Hyatt Hotels Corporation (“Hyatt” or the “Company”) has announced a postponement in the release of its earnings report for the fourth quarter and the entirety of 2023, initially scheduled for February 15, 2024. The delay is due to the need for additional time to complete the accounting for deferred costs associated with the Unlimited Vacation Club within its Apple Leisure Group segment. This adjustment has no impact on cash flow. The company will announce a new date and time for the earnings release and investor conference call in a forthcoming press release.

Additionally, Hyatt shared key highlights for the fourth quarter and full year of 2023:

• System-wide comparable RevPAR saw a rise of 9.1% in the fourth quarter and 17.0% for the full year, surpassing the company’s expectations for 2023 when compared to the corresponding periods in 2022.
• Comparable RevPAR for owned and leased hotels increased by 5.9% in the fourth quarter and 15.5% throughout 2023, with an operating margin of 26.2% in the fourth quarter and 25.4% for the full year.
• Net Package RevPAR experienced an 11.3% increase in the fourth quarter and 15.3% for the full year compared to the prior year.
• The company generated $256 million in fees from Management, Franchise, License, and others during the fourth quarter, totaling $985 million for the full year.
• A record-breaking Cash Flow from Operations reached $800 million for 2023.
• Free Cash Flow also hit a record high at $602 million for the year.
• Net Rooms Growth was reported at 5.9% for 2023, aligning with the company’s expectations.
• The pipeline for executed management or franchise contracts stood at approximately 127,000 rooms.
• Around 890 thousand Class A shares were repurchased for $95 million in the fourth quarter, with a total of about 4.1 million Class A shares bought back for $453 million throughout 2023.
• Total Capital Returns to Shareholders reached $500 million for the year, including dividends and share repurchases, meeting the full-year forecast.

First Quarter 2024 Dividend Declaration:

The board of directors of the Company has declared a first-quarter 2024 dividend of $0.15 per share, payable on March 12, 2024, to holders of Class A and Class B shares on record as of February 28, 2024.

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