Hyatt reports $49m Q3 net loss due to acquisition costs

Hyatt Hotels has reported a $49m (£37.3m) net loss for the third quarter of 2025, as higher fees and room growth were offset by operating costs and the impact of recent acquisitions.

The Chicago-based group said comparable RevPAR rose 0.3% year-on-year during the quarter, while net rooms grew 12.1%, or 7% excluding acquisitions. Adjusted net loss stood at $29m (£22.1m), with adjusted EBITDA rising 5.6% to $291m (£222m).

Gross fees increased 5.9% to $283m (£216m) compared with the same period last year. The pipeline of executed management or franchise contracts grew 4.4% to about 141,000 rooms.

Hyatt’s luxury properties led growth in the quarter, with leisure travel the strongest segment. Group bookings were weaker, partly due to the timing of the Rosh Hashanah holiday. Net package RevPAR increased 7.6%, underlining the performance of luxury all-inclusive travel. 

Base management fees rose 10%, driven by international hotel openings, while franchise and other fees increased 4%. Owned and leased segment adjusted EBITDA rose 7% after adjusting for asset sales and acquisitions, though comparable margins declined slightly.

During the quarter Hyatt opened 5,163 rooms, including Park Hyatt Kuala Lumpur, Park Hyatt Johannesburg, Secrets Playa Esmeralda Resort and Spa in Punta Cana, and Hyatt Regency Times Square – its first Hyatt Regency in Manhattan. It also signed a master franchise deal with HomeInns Hotel Group in China to open 50 Hyatt Studios hotels over the next several years.

As of 30 September 2025, total debt stood at $6bn (£4.5bn) and liquidity at $2.2bn (£1.6bn), including $749m (£571m) in cash and short-term investments. Hyatt repurchased $30m (£23m) of its Class A shares during the quarter and had $792m (£604m) of remaining authorisation.

For the full year, Hyatt forecast net income between $70m (£53m) and $86m (£65.5m) and adjusted EBITDA between $1.09bn (£830m) and $1.11bn (£850m), representing a 7% to 9% increase over 2024 after adjusting for asset sales. Comparable RevPAR is expected to rise between 2% and 2.5%, with net room growth excluding acquisitions of 6.3% to 7%.

Mark Hoplamazian, president and chief executive of Hyatt, said: “As we continue our evolution to a brand-led organisation, we are focused on elevating guest experiences, deepening customer loyalty through World of Hyatt, and expanding into high-growth segments and geographies.”