Core Viewpoint - Hydro One Limited has announced the pricing of a $1.1 billion offering of Medium Term Notes to finance eligible green projects under its Sustainable Financing Framework [1][2]. Group 1: Offering Details - The offering consists of three series of Medium Term Notes: $450 million of 3.94% Series 61 Notes due 2032, $300 million of 4.30% Series 62 Notes due 2035, and $350 million of 4.95% Series 63 Notes due 2055 [1]. - The Series 61 Notes will be issued at a price of $99.988 per $100.00 principal amount, Series 62 Notes at $99.928, and Series 63 Notes at $99.907 [1]. - The offering is expected to close on August 25, 2025 [1]. Group 2: Use of Proceeds - Hydro One Inc. intends to allocate the net proceeds from the sale of the Notes to finance or refinance new and/or existing eligible green projects as per the 2024 Framework [2]. - Prior to allocation, proceeds may be used for debt repayment or investments in cash equivalents in line with internal liquidity management policies [2]. Group 3: Company Overview - Hydro One Limited is Ontario's largest electricity transmission and distribution provider, serving 1.5 million customers with $36.7 billion in assets as of December 31, 2024, and annual revenues of $8.5 billion in 2024 [6][7]. - The company invested $3.1 billion in its transmission and distribution networks in 2024 and supported the economy by purchasing $2.9 billion in goods and services [7].

文｜迈点 最近，各大国际酒店集团2025年第二季度财报纷纷发布，迈点观察到，头部国际酒店集团全球维度发展稳健，然而，大中华区财报数据依然呈现下降之 势。 1、Q2国际酒店成绩单：全球稳跑，大中华区"慢半拍" 万豪国际集团：全球稳健增长，大中华区呈结构性分化 二季度，万豪全球范围内酒店营收同比增长5%至67.4亿美元。RevPAR（每间可供出租客房收入）为136美元，同比增长1.5%；入住率为72.2%，同比下降 0.3个百分点；ADR（平均每日房价）为188.25美元，同比增长1.9%。 | | | | | Three Months Ended June 30, 2025 and Change vs. Three Months Ended June 30, 2024 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | RevPAR | | Occupancy | | | Average Daily Rate | | | | | 2025 | vs. 2024 | 2025 | vs. 2024 | | 2025 | v ...

Group 1 - The article discusses recent developments in Hyatt Hotels Corporation, particularly focusing on its acquisition and disposition of Playa Hotels & Resorts [1] - The author has extensive experience in the logistics sector and stock investing, with a focus on ASEAN and NYSE/NASDAQ stocks, including banks, telecommunications, logistics, and hotels [1] - The author has been trading in the US market for four years and has diversified investments across various industries and market capitalizations [1]

PART I – FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The financial statements for the period ended June 30, 2025, reflect a significant decrease in net income due to non-recurring gains and acquisition costs, with total assets and liabilities increasing substantially from the Playa Hotels acquisition [Condensed Consolidated Statements of Income (Loss)](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20(Loss)) Q2 and Six Months Ended June 30, 2025 vs 2024 | Financial Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $1,808 million | $1,703 million | $3,526 million | $3,417 million | | **Net Income (Loss)** | ($4) million | $359 million | $20 million | $881 million | | **Net Income (Loss) Attributable to Hyatt** | ($3) million | $359 million | $17 million | $881 million | | **Diluted EPS** | ($0.03) | $3.46 | $0.17 | $8.42 | - Total revenues increased by **6.2%** in Q2 2025 year-over-year, driven by higher fees and reimbursed costs. However, net income saw a sharp decline from a **$359 million profit** in Q2 2024 to a **$4 million loss** in Q2 2025, largely due to the absence of significant gains from real estate sales that occurred in the prior year and an increase in transaction costs[9](index=9&type=chunk) [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Summary as of June 30, 2025 | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | $15,907 million | $13,324 million | | Cash and cash equivalents | $846 million | $1,011 million | | Goodwill | $3,450 million | $2,541 million | | **Total Liabilities** | $12,020 million | $9,498 million | | Long-term debt | $5,627 million | $3,326 million | | **Total Equity** | $3,887 million | $3,826 million | - Total assets increased by **$2.6 billion** since year-end 2024, primarily due to a **$909 million** increase in Goodwill and the addition of **$1.9 billion** in assets held for sale, both related to the Playa Hotels acquisition. This was financed by a **$2.3 billion** increase in long-term debt[13](index=13&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary for Six Months Ended June 30 | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $86 million | $419 million | | **Net cash used in investing activities** | ($1,120) million | ($306) million | | **Net cash provided by financing activities** | $936 million | $237 million | | **Net (decrease) in cash** | ($164) million | $349 million | - Operating cash flow decreased significantly in the first six months of 2025 compared to 2024, mainly due to higher cash payments for transaction costs, income taxes, and interest. Investing activities saw a large cash outflow of **$1.27 billion** for acquisitions (net of cash acquired), primarily for Playa Hotels. Financing activities provided **$936 million**, driven by **$2.68 billion** in debt proceeds, which was used to fund the acquisition and repay other debt[15](index=15&type=chunk)[326](index=326&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail significant corporate events, including the $1.5 billion Playa Hotels acquisition, subsequent asset sale agreement, and related debt financing, alongside disclosures on revenue recognition and loyalty program litigation - As of June 30, 2025, Hyatt's portfolio included **1,487 hotels** (**363,790 rooms**) across **80 countries**[24](index=24&type=chunk) - Total contract liabilities were **$2.35 billion**, with the largest portion (**$1.47 billion**) related to the World of Hyatt loyalty program[32](index=32&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=47&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a 6.2% revenue increase in Q2 2025, offset by a net loss due to Playa Hotels acquisition costs and absent asset sale gains, with comparable RevPAR growing 1.6% and strong liquidity supporting strategic growth - In Q2 2025, consolidated revenues rose **6.2% YoY** to **$1.81 billion**, but the company reported a net loss of **$3 million** attributable to Hyatt, a sharp contrast to the **$359 million net income** in Q2 2024. This was primarily due to transaction costs from the Playa Hotels acquisition and a lack of asset sale gains[216](index=216&type=chunk)[221](index=221&type=chunk) - The company completed the acquisition of Playa Hotels on **June 17, 2025**, and subsequently entered into a definitive agreement on **June 29, 2025**, to sell the Playa Hotels real estate portfolio for **$2.0 billion**[213](index=213&type=chunk) [RevPAR and Net Package RevPAR Statistics](index=50&type=section&id=RevPAR%20and%20Net%20Package%20RevPAR%20Statistics) Q2 2025 Key Performance Indicators (vs. Q2 2024) | Metric | Value | Change (Constant $) | | :--- | :--- | :--- | | **Comparable System-wide Hotels RevPAR** | $151 | +1.6% | | - United States RevPAR | $158 | -0.1% | | - Asia Pacific (ex-China) RevPAR | $144 | +7.4% | | **Comparable All-Inclusive Resorts Net Package RevPAR** | $210 | +8.6% (Reported $) | - System-wide RevPAR growth in Q2 2025 was driven by strong leisure travel outside the United States, particularly in the Asia Pacific (ex-China) and Middle East & Africa regions. The US market was approximately flat. All-inclusive resorts showed strong performance with an **8.6% increase** in Net Package RevPAR[220](index=220&type=chunk)[227](index=227&type=chunk)[232](index=232&type=chunk) [Results of Operations](index=52&type=section&id=Results%20of%20Operations) Fee Revenues (Q2 2025 vs Q2 2024) | Fee Type | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Base management fees | $113M | $100M | +13.1% | | Incentive management fees | $62M | $54M | +15.0% | | Franchise and other fees | $126M | $121M | +4.1% | | **Net fees** | **$286M** | **$259M** | **+10.4%** | - Transaction and integration costs surged to **$82 million** in Q2 2025 from **$10 million** in Q2 2024, primarily due to the Playa Hotels Acquisition[9](index=9&type=chunk)[261](index=261&type=chunk) - Gains on sales of real estate were only **$2 million (negative)** in Q2 2025, compared to a substantial **$350 million** gain in Q2 2024 from the sales of Park Hyatt Zurich and Hyatt Regency San Antonio Riverwalk[9](index=9&type=chunk)[273](index=273&type=chunk) [Segment Results](index=57&type=section&id=Segment%20Results) Segment Adjusted EBITDA (Q2 2025 vs Q2 2024) | Segment | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | **Management and franchising** | $238M | $222M | +7.3% | | **Owned and leased** | $64M | $79M | -17.8% | | **Distribution** | $43M | $43M | -0.2% | | **Total Segment Adjusted EBITDA** | **$345M** | **$344M** | **+0.3%** | - The Management and Franchising segment's Adjusted EBITDA grew **7.3%** in Q2 2025, driven by higher gross fees. The Owned and Leased segment's Adjusted EBITDA declined **17.8%**, impacted by net disposition activity in 2024. The Distribution segment's performance was flat year-over-year[286](index=286&type=chunk)[292](index=292&type=chunk)[297](index=297&type=chunk) [Liquidity and Capital Resources](index=64&type=section&id=Liquidity%20and%20Capital%20Resources) - To finance the Playa Hotels Acquisition, the company entered into a **$1.7 billion** delayed draw term loan (DDTL) facility and issued new senior notes. The company plans to use proceeds from the planned sale of the Playa Hotels Portfolio to repay the DDTL loans[321](index=321&type=chunk)[322](index=322&type=chunk) Debt Ratios | Ratio | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Total debt-to-total capital | **62.9%** | **51.6%** | | Net debt-to-total capital | **53.4%** | **32.7%** | - As of June 30, 2025, the company had **$822 million** remaining under its share repurchase authorization and **$1.497 billion** of available borrowing capacity under its revolving credit facility[169](index=169&type=chunk)[121](index=121&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=68&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that as of June 30, 2025, there have been no material changes to its market risk disclosures from those presented in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 - No material changes to market risk were reported as of **June 30, 2025**, compared to the disclosures in the **2024 Form 10-K**[339](index=339&type=chunk) [Item 4. Controls and Procedures](index=68&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls were effective as of quarter-end, while the company is integrating internal controls of the newly acquired Playa Hotels - The Principal Executive Officer and Principal Financial Officer concluded that disclosure controls and procedures were effective as of **June 30, 2025**[340](index=340&type=chunk) - The company is in the process of assessing and integrating the internal control over financial reporting of the recently acquired Playa Hotels[341](index=341&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=69&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal claims in the ordinary course of business, but management does not expect a material financial impact - The company is subject to various legal claims in the ordinary course of business but does not expect them to have a material financial impact[343](index=343&type=chunk) [Item 1A. Risk Factors](index=69&type=page&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2024, and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 - No material changes to risk factors were reported as of June 30, 2025, from previous filings[345](index=345&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=69&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company did not repurchase any shares during the quarter ended June 30, 2025, with approximately $822 million remaining under the share repurchase authorization - No shares were repurchased during the three months ended **June 30, 2025**[346](index=346&type=chunk) - As of **June 30, 2025**, approximately **$822 million** remained authorized for future share repurchases[346](index=346&type=chunk) [Item 5. Other Information](index=69&type=section&id=Item%205.%20Other%20Information) On August 6, 2025, the company retired 364,620 Class B common shares converted to Class A, reducing the total authorized capital stock - On **August 6, 2025**, the company retired **364,620 shares** of Class B common stock following their conversion to Class A shares, reducing the total authorized capital stock[349](index=349&type=chunk)[351](index=351&type=chunk)

Core Insights - Hyatt Hotels Corporation reported better-than-expected second-quarter 2025 results, with adjusted earnings and revenues exceeding the Zacks Consensus Estimate [1][3] - The company experienced strong demand trends across its diversified brand offerings, positioning it well for uncertain market conditions [2] Financial Performance - Adjusted earnings per share (EPS) for Q2 was 68 cents, surpassing the consensus estimate of 66 cents by 3%, while the previous year's EPS was 1.53 cents [3] - Revenues reached $1.808 billion, exceeding the consensus mark of $1.741 billion by 3.9% and showing a year-over-year increase of 6.2% [3] - Owned and Leased revenues declined by 3.2% to $304 million, and Distribution revenues fell by 5.8% to $262 million, but Other revenues grew by 10% year-over-year [4] - Net fees increased by 10.4% year-over-year to $286 million, and revenues for reimbursed costs rose by 12.2% to $945 million from $842 million in the prior year [4] Operational Highlights - Comparable system-wide hotel RevPAR increased by 1.6% compared to the same period in 2024, with all-inclusive resorts seeing an 8.6% rise [5] - Adjusted EBITDA was $303 million, down 1.1% year-over-year, but up 9% when adjusted for assets sold in 2024 [6] - Adjusted EBITDA for Management and Franchising segments increased by 7.2% and 25.6%, respectively, while the Owned and Leased segment's adjusted EBITDA decreased by 19% to $64 million [6] Balance Sheet and Liquidity - As of June 30, 2025, Hyatt had cash and cash equivalents of $912 million, down from $1.383 billion at the end of 2024, with total liquidity at $2.4 billion [7] - Total debt increased to $6 billion from $3.78 billion at the end of 2024 [7] Business Development - In Q2, Hyatt added 8,920 rooms to its system, with a pipeline of approximately 140,000 rooms under executed management or franchise contracts as of June 30, 2025 [8] 2025 Outlook - The company expects adjusted general and administrative expenses to be between $450 million and $460 million, with capital expenditures anticipated at about $150 million [10] - System-wide RevPAR is projected to rise by 1-3% from 2024 levels, and adjusted EBITDA is expected to be in the range of $1.085-$1.130 billion, reflecting a year-over-year increase of 7-11% [11]

Core Insights - Hyatt Hotels reported revenue of $1.81 billion for the quarter ended June 2025, reflecting a 6.2% increase year-over-year and a surprise of +3.85% over the Zacks Consensus Estimate of $1.74 billion [1] - The company's EPS was $0.68, down from $1.53 in the same quarter last year, with an EPS surprise of +3.03% compared to the consensus estimate of $0.66 [1] Financial Performance Metrics - Average Daily Rate (ADR) for comparable systemwide hotels was $206.47, slightly below the average estimate of $206.96 [4] - Occupancy rate for comparable systemwide hotels was 73.1%, compared to the average estimate of 73.6% [4] - Revenue per Available Room (RevPAR) for comparable systemwide hotels was $150.97, below the average estimate of $152.75 [4] - ADR for comparable owned and leased hotels was $309.18, exceeding the average estimate of $273.11 [4] - Revenues for reimbursed costs were $945 million, surpassing the average estimate of $931.48 million, representing a year-over-year increase of +12.2% [4] - Distribution revenues were $262 million, below the average estimate of $282.82 million, indicating a year-over-year decline of -5.8% [4] - Net fees revenue was $286 million, slightly below the average estimate of $288.62 million [4] - Other revenues amounted to $11 million, exceeding the average estimate of $10.43 million, with a year-over-year change of +10% [4] - Revenues from owned and leased hotels were $304 million, compared to the average estimate of $238.82 million, reflecting a -3.2% change year-over-year [4] - Gross fees revenue was $301 million, above the average estimate of $297.18 million [4] - Contra revenues were reported at $-15 million, matching the average estimate [4] - Base management fees were $113 million, exceeding the average estimate of $108.13 million [4] Stock Performance - Shares of Hyatt Hotels have returned -7.5% over the past month, while the Zacks S&P 500 composite has increased by +1.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - System-wide RevPAR growth was reported at 1.6% for the quarter, or 2.2% when adjusting for the Easter shift [12][26] - Gross fees increased to $301 million, reflecting a 9.5% growth driven by international RevPAR performance and new hotel openings [28] - Adjusted EBITDA for the quarter was approximately $300 million, marking a 9% increase after adjusting for asset sales [29][36] Business Line Data and Key Metrics Changes - Leisure transient RevPAR increased by 2.6%, with luxury brands seeing an approximate 6% increase [12][26] - Business transient RevPAR was flat, with a decline of 1.5% in the U.S. driven by select service hotels [13][26] - Group RevPAR increased by 0.3%, with expectations for improved performance in the fourth quarter [13][15] Market Data and Key Metrics Changes - RevPAR outside the U.S. performed well, particularly in Europe and Asia Pacific, excluding Greater China [27] - Greater China saw RevPAR growth for the second consecutive quarter, driven by leisure transient demand [27] - The Americas reported strong growth in all-inclusive net package RevPAR, increasing by 6% compared to the previous year [12][28] Company Strategy and Development Direction - The acquisition of Playa Hotels and Resorts was completed, enhancing Hyatt's presence in the luxury all-inclusive segment [6][9] - The company aims to maintain an asset-light business model, with expectations for asset-light earnings to exceed 90% by 2027 [11][22] - Hyatt is focused on expanding its brand portfolio, including the introduction of the new brand "Unscripted by Hyatt" to capture more market opportunities [20][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of business transient travel post-Labor Day, with expectations for improved RevPAR growth in the fourth quarter [15][34] - The company anticipates challenges in the third quarter due to tough year-over-year comparisons but expects a positive outlook for 2026 [32][34] - Management highlighted the importance of the World of Hyatt loyalty program, which has seen a 21% increase in membership compared to the previous year [16][22] Other Important Information - The company ended the quarter with total liquidity of approximately $2.4 billion, including $1.5 billion in revolving credit capacity [30] - A quarterly dividend of $0.15 per share was paid, with approximately $822 million remaining under the share repurchase authorization [30] - The company expects to return approximately $300 million to shareholders in 2025 through dividends and share repurchases [36] Q&A Session Summary Question: Insights on expected improvement through the year - Management noted that the third quarter may face headwinds due to tough comparisons but expects a stronger fourth quarter driven by group and business transient travel [41][44] Question: Update on co-branded credit card negotiations - Management indicated that updates will be provided once more specifics are available, likely later this year or early next year [49] Question: Status of hotel dispositions and capital allocation - Proceeds from the Playa real estate sale will be used to pay down debt, with ongoing efforts to further dispose of other assets to enhance shareholder returns [54][55] Question: Building blocks for next year's earnings power - Management provided insights on expected fees from Playa, credit card negotiations, organic growth, and the impact of owned and leased properties on earnings [64][68]

Financial Data and Key Metrics Changes - The company reported system-wide RevPAR growth of 1.6% for the quarter, or 2.2% when adjusting for the shift of Easter [10][24] - Gross fees in the quarter were $301 million, up 9.5% driven by international RevPAR performance and new hotel openings [27] - Adjusted EBITDA was $300 million in the second quarter, an increase of approximately 9% after adjusting for assets sold in 2024 [28] Business Line Data and Key Metrics Changes - Leisure transient RevPAR was up 2.6% year-over-year, with luxury brands increasing approximately 6% [10][11] - Business transient RevPAR was flat, with a decline of 1.5% in the U.S. driven by select service hotels [11][24] - Group RevPAR increased by 0.3% year-over-year, with a stronger performance in luxury chain scales [11][24] Market Data and Key Metrics Changes - RevPAR outside the U.S. performed well, particularly in Europe and Asia Pacific, excluding Greater China [25] - Greater China saw RevPAR growth for the second consecutive quarter due to increases in leisure transient demand [26] - The Americas reported a 6% increase in all-inclusive net package RevPAR compared to 2024, indicating strong demand for luxury all-inclusive travel [10][27] Company Strategy and Development Direction - The company completed the acquisition of Playa Hotels and Resorts, which included 15 all-inclusive resorts, and plans to sell the real estate portfolio for $2 billion [5][7] - The company aims to maintain an asset-light business model while expanding its brand portfolio in the luxury all-inclusive segment [8][19] - The introduction of the new brand, Unscripted by Hyatt, is expected to unlock growth opportunities through conversion-friendly strategies [18][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of business transient travel post-Labor Day, with expectations for improved RevPAR growth in the fourth quarter [13][45] - The company anticipates a challenging third quarter due to tough year-over-year comparisons but expects a positive outlook for 2026 [31][47] - Management highlighted the importance of the World of Hyatt loyalty program, which has grown membership by approximately 27% per year since 2017 [14][20] Other Important Information - The company ended the quarter with over 58 million loyalty members, reflecting a 21% increase compared to 2024 [14] - The company has a pipeline of approximately 140,000 rooms, an 8% increase over last year, with signings up over 30% [16][17] - The company expects to return approximately $300 million to shareholders in 2025 through dividends and share repurchases [36] Q&A Session Summary Question: Insights on expected improvement through the year - Management noted that the third quarter may see weakness primarily due to tough comparisons from last year, but they expect a pickup in the fourth quarter driven by group and business transient travel [42][45] Question: Update on co-branded credit card negotiations - Management indicated they feel confident about the negotiations and will provide updates as they progress [50] Question: Status of hotel dispositions and capital allocation - Management confirmed that proceeds from the Playa real estate sale will be used to pay down debt, and they are focused on further asset dispositions to enhance shareholder returns [54][55] Question: Building blocks for next year's earnings - Management provided insights on expected fees from Playa, credit card deals, and organic growth, emphasizing strong group pace and leisure travel outlook [62][68] Question: Integration timeline for recent acquisitions - Management stated that integration for the Standard brand is progressing well, with early results exceeding expectations, while the Playa hotels will be fully integrated by January 2026 [92][93]

Investor Presentation Hyatt C O N F I D E N T I A L A N D P R O P R I E T A R Y | H y a t t a n d r e l a t e d m a r k s a r e t r a d e m a r k s o f H y a t t C o r p o r a t i o n o r i t s a f f i l i a t e s . © 2 0 2 5 H y a t t C o r p o r a t i o n . A l l r i g h t s r e s e r v e d . Disclaimers Forward-Looking Statements Forward-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Ac ...

Financial Performance - Hyatt Hotels reported quarterly earnings of $0.68 per share, exceeding the Zacks Consensus Estimate of $0.66 per share, but down from $1.53 per share a year ago, indicating an earnings surprise of +3.03% [1] - The company posted revenues of $1.81 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 3.85%, compared to $1.7 billion in the same quarter last year [2] - Over the last four quarters, Hyatt has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Performance and Outlook - Hyatt Hotels shares have declined approximately 13.3% since the beginning of the year, while the S&P 500 has gained 7.9% [3] - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimates at $0.56 for the upcoming quarter and $2.24 for the current fiscal year [4][7] Industry Context - The Hotels and Motels industry, to which Hyatt belongs, is currently ranked in the bottom 10% of over 250 Zacks industries, which may negatively impact stock performance [8] - H World Group, another company in the same industry, is expected to report quarterly earnings of $0.56 per share, reflecting a year-over-year change of +21.7% [9]