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Hyatt Hotels has reported that net income hit $294m (£246m) in Q4 and $455m (£381m) overall for the full financial year, beating expectations in what it called a “truly transformative” year.
Adjusted net income was $278m (£232.9) in the fourth quarter and $365m (305.8m) for the full year of 2022.
Adjusted EBITDA also reached $232m (£194m) in Q4 and $908m (£760m), as Apple Leisure Group (ALG) contributed $43m (£36m) of adjusted EBITDA in the fourth quarter and $231m (£193m) for the full year of 2022.
The group also reported a record cash flow from operations of $674m (£564.6m), while its net rooms total grew by 6.7%, “exceeding expectations” for the fourth quarter and the full year.
Meanwhile, the global hotel brand’s comparable system-wide RevPAR increased by 34.8% in Q4 and 60.2% for the full year of 2022, compared to 2021.
In addition, comparable owned and leased hotels RevPAR increased by 41.7% in Q4 and 87.6% for the full year of 2022, compared to 2021, while margins improved to 27.9% in Q4 and to 27.1% for the full year.
By the end of 2022, the group’s pipeline of executed management or franchise contracts was approximately 117,000 rooms, inclusive of ALG’s pipeline contribution of 8,000 rooms.
Mark Hoplamazian, president and CEO of Hyatt, said: “Our results in the fourth quarter mark the completion of a truly transformative year. We generated a record level of fees and free cash flow while leading the industry in organic growth for a sixth consecutive year.
“This outcome is a direct result of successfully executing on our asset-light growth strategy. We continue to experience positive momentum in the markets in which we operate and are optimistic about the year ahead.”
