Hotel News Now
Summary: Hyatt Hotels Corp. will remain active in the transactions market after completing a $2 billion hotel sales commitment. CEO Mark Hoplamazian highlighted the focus on strategic partnerships and acquisitions of hotel brands or management platforms, supported by extensive data analytics. Hyatt recently acquired the Me and All Hotels brand and has a $500 million hotel property sale under contract, nearing its $3.6 billion sales goal since 2019. In Q2, Hyatt saw a 4.7% year-over-year increase in revenue per available room (RevPAR), driven by business travel and group demand, despite some weakness in China and a moderate U.S. growth environment. The company reported $1.7 billion in revenue and $359 million in net income, with 18 new hotels opened. Hyatt downgraded its full-year RevPAR growth projection to 3-4% but maintained net unit growth projections of 5.5-6%. Its stock is up 2.6% year-to-date, trading at $133.38 per share.