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Hyatt’s net income has hit $206m (£168.8m) in its second quarter, compared to a loss of $9m (£7.3m) in the same period of 2021.
The group’s adjusted EBITDA also increased to $255m (£208.9m) from $55m (£45.08m) in Q2, as the group said that business in July and forward looking bookings reflect its “continued strength”.
Meanwhile, system-wide RevPAR soared by 82% to $130 (£106) while comparable U.S. hotel RevPAR increased 85% to $150 (£123) in the second quarter of 2022.
System-wide Net Rooms Growth was 19% in Q2 2022, and excluding ALG, Net Rooms Growth was 4.6% due in part to the pipeline of executed management or franchise contracts of approximately 113,000 rooms. Excluding ALG, the pipeline makes up for approximately 106,000 rooms.
Mark Hoplamazian, president and CEO of Hyatt Hotels, said: “Our second quarter results serve as clear evidence of the earnings power of Hyatt as we continue to transform our business. Total fee revenue exceeded $200m (£163.9m) and was 27% higher than any other quarter in the company’s history, driven by a record level of leisure transient revenue and rapidly improving group and business transient demand.
“Demand broadened both geographically and by segment, with RevPAR in most of our key geographies exceeding the same period in 2019. Our outlook remains optimistic with strong actualized results and booking trends for future periods continuing in July.”
He added: “We had a strong second quarter of gross rooms expansion through the opening of approximately 5,500 rooms during the quarter. While there have been delays in the timing of openings across the industry, we are particularly encouraged by the volume of conversion opportunities driven by the compelling value of our brands, and expect Net Rooms Growth for the full year to be greater than 6%.”
