Hyatt(US:H)2025-11-06 11:58Financial Performance - Adjusted EBITDA for Q3 2025 was $291 million, a 5.6% increase from Q3 2024, or 10.1% after adjusting for assets sold in 2024[5] - Total revenues for the three months ended September 30, 2025, were $1,786 million, an increase from $1,629 million in the same period of 2024, representing a growth of 9.6%[24] - Net income attributable to Hyatt Hotels Corporation for the three months ended September 30, 2025, was a loss of $49 million, compared to a profit of $471 million in the same period of 2024[24] - Adjusted EBITDA for the nine months ended September 30, 2025, was not explicitly stated but is a key focus in the company's outlook and financial measures[19] - Adjusted EBITDA for the nine months ended September 30, 2025, was $867 million, a decrease from $1,352 million in the same period of 2024[43] - Net income (loss) attributable to Hyatt Hotels Corporation for Q3 2025 was $(49) million, compared to $471 million in Q3 2024[48] - Diluted earnings per share for Q3 2025 were $(0.51), down from $4.63 in Q3 2024[48] - The outlook for net income (loss) attributable to Hyatt Hotels Corporation for 2025 ranges from a loss of $124 million to a profit of $86 million[63] Revenue and Growth Metrics - Comparable system-wide hotels RevPAR increased by 0.3% compared to Q3 2024[5] - Full Year 2025 outlook projects comparable system-wide hotels RevPAR growth between 2% to 2.5% compared to 2024[8] - Owned and leased revenues increased to $429 million for the three months ended September 30, 2025, from $287 million in the same period of 2024, marking a significant increase of 49.4%[24] - The company reported gross fees of $283 million for the three months ended September 30, 2025, compared to $268 million in the same period of 2024, reflecting a year-over-year increase of 5.6%[24] - The company opened 5,163 rooms during Q3 2025, contributing to its growth strategy[7] - System-wide hotels achieved a RevPAR of $146.24, a 0.3% increase compared to 2024, with an occupancy rate of 72.8%, up 0.4 percentage points[25] Debt and Liquidity - Total debt as of September 30, 2025, was $6.0 billion, including a $1.7 billion delayed draw term loan[7] - Total liquidity was reported at $2.2 billion, consisting of $749 million in cash and cash equivalents and $1,497 million in borrowing capacity[7] Strategic Initiatives - The company is focused on reducing its owned real estate asset base within targeted timeframes and at expected values as part of its strategic outlook[18] - The planned Playa Real Estate Transaction is a significant aspect of the company's future strategy, with potential impacts on financial performance and asset management[18] - The company anticipates benefits from its expanded collaboration with Chase and plans to grow its credit card portfolio, which is expected to contribute to future Adjusted EBITDA growth[18] - The company plans to expand its portfolio with new properties and brands, focusing on luxury and upscale segments to enhance market presence[36] Expenses and Costs - General and administrative expenses for the three months ended September 30, 2025, were $138 million, up from $126 million in the same period of 2024, indicating an increase of 9.5%[24] - Interest expense for the nine months ended September 30, 2025, was $230 million, an increase from $160 million in 2024[43] - The company incurred transaction and integration costs of $25 million for the three months ended September 30, 2025, compared to $8 million in 2024[39] - Transaction and integration costs for the nine months ended September 30, 2025, totaled $130 million, compared to $26 million in the same period of 2024[43] Market Performance - In the United States, RevPAR decreased by 1.6% to $149.44, with occupancy at 72.0%, down 0.9 percentage points[25] - Greater China reported a RevPAR of $89.61, a 1.7% increase, and occupancy improved by 2.8 percentage points to 76.2%[25] - The Middle East & Africa saw a significant RevPAR increase of 8.5% to $104.82, with occupancy rising to 66.9%[25] - Europe experienced a notable RevPAR increase of 15.4% to $208.68, with occupancy at 89.0%, up 0.3 percentage points[26] - The Americas (excluding the United States) achieved a RevPAR of $246.53, a 6.1% increase, with occupancy at 74.4%, up 4.3 percentage points[26] Future Projections - Adjusted EBITDA for 2025 is projected between $1,090 million and $1,110 million, reflecting a 7% to 9% increase compared to 2024[8] - Capital returns to shareholders for 2025 are projected to be approximately $350 million through dividends and share repurchases[11] - Free Cash Flow is projected to range from $358 million to $408 million for the year ended December 31, 2025[65] - Adjusted Free Cash Flow is expected to be between $475 million and $525 million, factoring in costs associated with the Playa Hotels Acquisition[65] - The company anticipates transaction and integration costs to be between $166 million and $171 million for the year ended December 31, 2025[63]