UPDATE: Hyatt Hotels Posts Upbeat Q4 Earnings, Revenue Misses Estimates

Loading...
Loading...
Hyatt Hotels Corp.
H
reported stronger-than-expected profit for the fourth quarter. The Chicago, Illinois-based company posted a quarterly profit of $182 million, or $1.20 per share, versus a year-ago profit of $32 million, or $0.20 per share. Excluding special items, the company's earnings slipped to $0.31 per share from $0.32 per share. Its revenue declined to $1.08 billion from $1.09 billion. However, analysts were projecting earnings of $0.22 per share on revenue of $1.14 billion. Adjusted EBITDA dropped 18% to $146 million from $178 million. Comparable owned and leased hotels RevPAR gained 1.9% in the quarter. Comparable owned and leased hotel operating margin shrank to 21.4% from 21.9%. Comparable systemwide RevPAR gained 3.1%, while comparable U.S. full service hotel RevPAR surged 5.8% in the quarter. The average daily rate for comparable owned and leased hotels gained 0.7% to $222.90, while occupancy rose to 73.5% from 72.6%. During the quarter, Hyatt repurchased 3,645,096 shares of common stock for an aggregate purchase price of around $215 million. Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "Looking ahead, we expect continued strength in most U.S. markets while international markets will continue to be challenged due to market-specific factors. Transient demand continues to be strong in most markets while our U.S. group pace for 2015 remains robust - up approximately 7%. These factors, along with limited new supply in most U.S. markets, gives us the confidence that we are well positioned for strong and sustainable growth." Hyatt shares gained 0.79% to $60.00 in pre-market trading.
Loading...
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsprofit
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...