Hyatt Reports Mixed Q2 Results With Record Fee Revenue, Exceeds Earnings Estimates
Portfolio Pulse from Akanksha Bakshi
Hyatt Hotels Corporation (NYSE:H) reported mixed Q2 2024 results with record fee revenue and exceeded earnings estimates. Sales were slightly below expectations, but the company saw significant growth in RevPAR, net rooms, and its loyalty program. Adjusted EBITDA and EPS beat analyst expectations. Hyatt repurchased shares and declared a dividend. The company provided a positive outlook for 2024.
August 06, 2024 | 2:12 pm
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Hyatt reported mixed Q2 2024 results with record fee revenue and exceeded earnings estimates. Sales were slightly below expectations, but the company saw significant growth in RevPAR, net rooms, and its loyalty program. Adjusted EBITDA and EPS beat analyst expectations. Hyatt repurchased shares and declared a dividend. The company provided a positive outlook for 2024.
Despite missing sales estimates slightly, Hyatt's strong growth in key metrics like RevPAR, net rooms, and loyalty program membership, along with beating earnings estimates, is likely to have a positive short-term impact on the stock price. The positive outlook for 2024 further supports this view.
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