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Hyatt Hotels has lowered its full year RevPAR guidance to a rise of between 3% and 4% on a constant currency basis, despite company-wide RevPAR rising by 4.7% during the second quarter as net rooms grew by about 4.6%.
Meanwhile, all-inclusive resorts packages saw RevPAR rise by 3% during the period compared with Q2 of 2023.
As a result, net income hit $359m (£282m), while adjusted net income reached $158m (£124m) during the period.
As Hyatt’s adjusted EBITDA hit $307m (£241m) during the second quarter, the group now expects full year adjusted EBITDA to be between $1.13bn and $1.17bn (£890m to £920m).
In addition, the group expects its full year net income to be between $1.05bn and $1.11bn (£830m and £880m), with full year capital returns to shareholders to be within the range of $800m and $850m (£629m and £669m).
Mark Hoplamazian, president and CEO of Hyatt, said: “We posted solid second quarter results demonstrating our differentiated positioning and continued momentum. These achievements demonstrated the strength of our asset-light earnings model, which is designed to deliver strong free cash flow and enhance shareholder value.”
