By Denny Jacob
Hyatt Hotels posted a decline in fourth-quarter revenue despite strong demand from business and leisure travelers.
The hotel operator on Thursday said it swung to a loss of $56 million, or 58 cents a share, compared with net income of $26 million, or 25 cents a share, a year earlier.
Stripping out certain one-time items, earnings came in at 42 cents a share. Analysts polled by FactSet expected 75 cents a share.
Revenue declined to $1.6 billion from $1.66 billion. Analysts polled by FactSet expected $1.66 billion.
Hyatt said its results reflected strong business and leisure transient travel. It noted that group demand during the quarter was impacted by the shift of the Jewish holidays and the U.S. election in November.
The Chicago company said comparable revenue growth across all the properties the company manages, franchises or provides services for was 5% in the fourth quarter and 4.6% in 2024.
For 2025, Hyatt guided for comparable revenue growth of between 2% and 4% for across all the properties the company manages, franchises or provides services for, and it sees net income of $190 million to $240 million.
Hyatt earlier this month agreed to acquire Playa Hotels & Resorts for roughly $2.6 billion, including $900 million in debt.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 13, 2025 07:25 ET (12:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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