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Hyatt has reported a loss of $3m (£2.23m) for the second quarter of 2025, despite strong fee growth and continued expansion across its global hotel portfolio.
While adjusted net income reached $66m (£49m) for the period, adjusted EBITDA stood at $303m (£225m) – spelling a 1.1% fall from a year earlier but up 9% when excluding divested assets.
Comparable RevPAR rose 1.6% compared to the second quarter of 2024, driven by performance in luxury segments. Net rooms grew by 11.8%, or 6.5% excluding acquisitions.
During the quarter, Hyatt opened 8,920 rooms, including 2,600 associated with the Playa Hotels Acquisition. Notable openings included Hyatt Regency Zadar in Croatia and Zélia Halkidiki in Greece. The group also launched a new brand, Unscripted by Hyatt, aimed at conversion-friendly and adaptive reuse projects.
Gross fees rose 9.5% to $301m (£223m), with significant contributions from recent transactions involving Bahia Principe and Standard International. Base management fees increased 13%, while incentive fees rose 15%. Franchise and other fees were up 4%.
Mark Hoplamazian, president and chief executive of Hyatt, said: “The second quarter’s results reflect solid performance across our business, including strong fee contribution in a lower RevPAR growth environment.
“The Playa transactions, including the agreement to sell the entirety of Playa’s real estate portfolio, reinforce our commitment to our asset-light business model and solidifies our leadership in the fast-growing luxury all-inclusive segment.”
On 17 June, Hyatt completed its $2.6bn (£1.9bn) acquisition of Playa Hotels. A further agreement was announced on 30 June to sell Playa’s real estate portfolio for $2bn (£1.4bn) to Tortuga Resorts, a joint venture between KSL Capital Partners and Rodina. Hyatt will retain 50-year management agreements for 13 of the 15 resorts.
As of 30 June, Hyatt’s pipeline included approximately 140,000 rooms under executed management or franchise contracts, up 8% year on year. The group reported total liquidity of $2.4bn (£1.7bn) and a remaining share repurchase authorisation of $822m (£611.5m). No shares were repurchased during the quarter.
For the full year, Hyatt expects RevPAR growth of 1% to 3%, net rooms growth of 6% to 7% excluding acquisitions, and adjusted EBITDA of $1.08bn (£800m) to $1.13bn (£840m). Capital returns to shareholders are projected at around $300m (£223m) through dividends and buybacks.
