Hyatt(US:H)2025-11-06 18:28Financial Performance - Consolidated revenues increased by $157 million, or 9.7%, for the quarter ended September 30, 2025, compared to the same quarter in 2024[229]. - The company reported a net loss of $49 million for the quarter ended September 30, 2025, a decrease of $520 million compared to the same quarter in 2024[232]. - Consolidated Adjusted EBITDA for the quarter was $291 million, an increase of $16 million compared to the same quarter in 2024[232]. - Adjusted EBITDA for the three months ended September 30, 2025, was $291 million, representing a 5.6% increase from $275 million in the same period of 2024[332]. - For the nine months ended September 30, 2025, Adjusted EBITDA was $867 million, a 3.1% increase from $841 million in the same period of 2024[333]. - 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, reflecting a decrease of 110.4%[332]. Revenue Sources - Owned and leased revenues increased by $142 million due to the Playa Hotels acquisition, partially offset by net disposition activity[229]. - Owned and leased revenues for the three months ended September 30, 2025, increased by 49.8% to $429 million, primarily due to strong group and business transient travel[258]. - Comparable system-wide hotels Revenue per Available Room (RevPAR) was $146.24, a 0.3% improvement in constant dollars compared to the same quarter in 2024[230]. - Comparable system-wide all-inclusive resorts Net Package RevPAR was $194.56, representing a 7.6% increase compared to the same quarter in 2024[230]. - RevPAR at comparable system-wide hotels increased by 7.6% to $194.56 for the three months ended September 30, 2025, compared to the same period in 2024, driven by strong leisure transient travel outside the United States[239]. - For the nine months ended September 30, 2025, Net Package RevPAR at comparable all-inclusive resorts increased by 7.9% to $225.33, with occupancy rising by 3.7 percentage points to 77.2%[242]. Expenses and Costs - General and administrative expenses rose by 9.6% to $138 million for the three months ended September 30, 2025, compared to $126 million in 2024[266]. - Owned and leased expenses increased by 51.9% to $346 million for the three months ended September 30, 2025, compared to $228 million in 2024[272]. - Transaction and integration costs increased by $17 million for the three months ended September 30, 2025, compared to the same period in 2024, mainly due to costs related to the Playa Hotels Acquisition[278]. - Interest expense increased by $40 million for the three months ended September 30, 2025, compared to the same period in 2024, primarily due to the issuance of senior notes[289]. - Stock-based compensation expense for the three months ended September 30, 2025, was $14 million, reflecting a 42.9% increase from $9 million in the same period of 2024[332]. Shareholder Returns - The company returned $45 million to stockholders through $30 million in share repurchases and $15 million in dividends during the quarter[233]. - The company sold a property in the Playa Hotels Portfolio for $22 million during the three months ended September 30, 2025, using the proceeds to repay $22 million of the DDTL Loans[335]. Acquisitions and Dispositions - The company completed the acquisition of Playa Hotels on June 17, 2025, and plans to close the disposition of the remaining 14 properties by the end of 2025[225]. - The company removed 11 properties from its hotel portfolio during the nine months ended September 30, 2025, including eight franchised properties acquired[244]. - The company acquired Playa Hotels for $1,274 million, net of cash acquired, during the nine months ended September 30, 2025[340]. Debt and Financing - Total debt increased to $6,014 million as of September 30, 2025, resulting in a total debt-to-total capital ratio of 63.3%[341]. - Net consolidated debt rose to $5,265 million, with a net debt-to-total capital ratio of 55.4% as of September 30, 2025[341]. - The company entered into a credit agreement providing for a $1.5 billion senior unsecured revolving credit facility, maturing in October 2030, to support its long-term business strategy[335]. Market Performance - Group booking pace for October through December 2025 is up 2.5% compared to the same period in 2024[231]. - The company experienced a 15.4% increase in Net Package RevPAR in Europe for the three months ended September 30, 2025, reaching $208.68[240]. Other Financial Metrics - Distribution revenues decreased by $29 million and $49 million for the three and nine months ended September 30, 2025, respectively, due to lower booking volumes[260]. - Other income (loss), net decreased by $74 million and $84 million for the three and nine months ended September 30, 2025, respectively, compared to the same periods in 2024[292]. - Income (loss) before income taxes for the three months ended September 30, 2025, was $(17) million, a decrease of $625 million or (102.8)% compared to $608 million in 2024[293].