Hyatt Reports First Quarter 2024 Results

Hyatt Hotels Corporation ("Hyatt" or the "Company") (NYSE: H) reported first quarter 2024 results. Highlights include:

• Comparable system-wide hotels RevPAR increased 5.5% compared to the same period in 2023

• Comparable system-wide all-inclusive resorts Net Package RevPAR increased 11.0% compared to the same period in 2023

• Net Rooms Growth was approximately 5.5%

• Net Income was $522 million and Adjusted Net Income was $75 million

• Diluted EPS was $4.93 and Adjusted Diluted EPS was $0.71

• Adjusted EBITDA was $252 million

• Pipeline of executed management or franchise contracts was approximately 129,000 rooms

• Repurchased approximately 2.5 million shares of Class A and Class B common stock for an aggregate purchase price of $388 million

• Full year comparable system-wide hotels RevPAR is projected to increase 3% to 5% on a constant currency basis compared to full year 2023

• Full year Net Income is projected between $1,135 million and $1,195 million

• Full year Adjusted EBITDA is projected between $1,150 million and $1,190 million and is in line with previously provided 2024 Outlook when adjusting for $30 million of reduced Adjusted EBITDA due to transactions

• Full year Capital Returns to Shareholders is projected between $800 million and $850 million

Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said, "The year is off to a great start with gross fee revenue reaching a record of $262 million in the quarter. Our pipeline also reached a new record, expanding 10% year-over-year to 129,000 rooms, and we realized net rooms growth of 5.5%. World of Hyatt membership has grown by 22%, reaching a new record of 46 million members. Significant progress on asset dispositions is further expanding our asset-light earnings mix, reflecting our execution to permanently reduce owned real estate."

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Hyatt's Inclusive Collection Expands in Mexico with Opening of Dreams Estrella del Mar Mazatlán Golf & Spa Resort

Hyatt Hotels Corporation (NYSE: H) announced the opening of the family-friendly, all-inclusive, Dreams Estrella del Mar Mazatlán Golf & Spa Resort. The opening of the luxury all-suite resort marks the first Hyatt hotel in the seaside destination of Mazatlán in Mexico, supporting Hyatt’s strategic brand expansion plans to provide more distinctive destination options for guests and members seeking unique experiences in trending cities and towns that tout their own local flare.

“We are thrilled to introduce guests and World of Hyatt members to the pearl of Mexico’s pacific coast. The opening of Dreams Estrella del Mar Mazatlán Golf & Spa Resort represents an opportunity to contribute greater value to Hyatt’s existing portfolio in the rapidly growing market by offering guests the first Hyatt resort in this brand-new destination,” said Gabriel Felip, President, Latin America & Caribbean.

Ideally situated in the exclusive community of Estrella del Mar, Dreams Estrella del Mar Mazatlán Golf & Spa Resort is conveniently located less than six miles from the Mazatlán International Airport and 20 minutes from the city center filled with colonial architecture, unique landmarks and one of the tallest working lighthouses on the central pacific coast.

"Dreams Estrella del Mar Mazatlán Golf & Spa Resort is setting a new standard for a luxury all-inclusive experience in the destination that meets the growing demand. The rich heritage, golden sand beaches, and sparkling seascapes complement five-star service and notable offerings such as swim-out suites and a full-size soccer pitch, making the resort an ideal choice for guests of all ages,” said Alma Gomez, general manager, Dreams Estrella del Mar Mazatlán Golf & Spa Resort.

Hyatt's Newest Inclusive Collection Brand Debuts with the Opening of Hyatt Vivid Grand Island

The 400-suite adults-only resort in Cancun offers a relaxing and engaging escape with an approachable atmosphere that caters to the next generation of all-inclusive travelers

Hyatt Hotels Corporation (NYSE: H) today announced the launch of the adults-only Hyatt Vivid brand with the opening of Hyatt Vivid Grand Island in Cancun, Mexico. The modern all-suite resort offers a relaxed atmosphere with a host of enriching experiences to complement the resort’s lush surroundings. The newest resort in Hyatt’s Inclusive Collection marks the continued growth of Hyatt’s brand footprint in Mexico with additional openings to follow later this year. 

“Hyatt offers brands that meet guests and members across every stay occasion and every walk of life. The debut of Hyatt Vivid Grand Island represents an exciting new chapter in the Inclusive Collection’s story,” said Melanie Benozich, associate vice president, marketing & global branding. “The Hyatt Vivid brand allows Hyatt to continue to excite our existing guests and members on more occasions while also introducing the all-inclusive concept to new travelers who prefer a casual atmosphere. We’re thrilled to see the brand promise of flexibility over formality come to life for the first time with the opening of Hyatt Vivid Grand Island in Cancun.”

Located just ten minutes from the famed Cancun hotel zone and adjacent to Dreams Grand Island, which is scheduled to open later this year, the sleek high-rise resort touts the perfect blend of modern design and inviting appeal. Setting the stage for joyful moments, guests enjoy local flavors with grab-and-go culinary options, take part in authentic experiences, and discover the true meaning of connection, all set within a gated community.

“We are thrilled to debut the first Hyatt Vivid resort in Mexico,” said Luis Miguel Ojeda, general manager, Hyatt Vivid Grand Island. “Hyatt Vivid Grand Island caters to travelers looking for a no-pressure vacation where they can eat, dress, dance, learn, and do as they please, on their time, their way. We are elated to welcome guests and members to their new home away from home.”

Hyatt Announces Robust Pipeline in India and Southwest Asia for 2024

Growth in brand footprint to over 55 hotels across leisure and business destinations in the region as brand portfolio expands with JdV by Hyatt as the ninth Hyatt brand in India

CHICAGO 2024 – Hyatt Hotels Corporation (NYSE: H) today announced plans for the aggressive expansion of Hyatt’s brand portfolio in India and Southwest Asia region, with a robust pipeline of eight new hotels that are expected to open across various leisure and city destinations in 2024. This growth is timed to coincide with the expected rebound of leisure and business travel in the country and the sub-continent.

In 2024, Hyatt’s brand expansion in India and Southwest Asia will continue with its Hyatt Regency, Hyatt Place, and Hyatt Centric brands. To expand the presence of its luxury and lifestyle brands in India, Hyatt also marked the strategic entry of the JdV by Hyatt brand in India with the official opening of Ronil Goa recently. The JdV by Hyatt brand is the ninth Hyatt brand to be introduced in the country reinstating Hyatt’s commitment to growing its footprint in India

The Hyatt Regency brand, which is a key growth driver for Hyatt in the region, will enter a new destination with the slated openings of Hyatt Regency Kasauli and Hyatt Regency Ghaziabad. The Hyatt Place brand is expected to enter three new locations in the region with Hyatt Place Aurangabad, Hyatt Place Haridwar and in a new country with Hyatt Place Dhaka Uttara (Bangladesh). The Hyatt Centric brand will expand its portfolio with the expected openings of Hyatt Centric Hebbal Bengaluru and Hyatt Centric Ballygunge Kolkata.

“Southwest Asia continues to demonstrate high growth potential and is among the top global growth markets for Hyatt. We have strong expansion plans for 2024 across our portfolio encompassing our legacy brands like Hyatt Regency, Hyatt Place and Hyatt Centric across destinations that will strengthen our brand presence in key markets. This expansion represents our strong commitment and confidence in the Southwest Asia region,” said Sunjae Sharma, managing director, India & Southwest Asia, Hyatt. “Complementing our current portfolio of Hyatt brands in the country, the introduction of the JdV by Hyatt lifestyle brand in India signifies a strategic milestone in Hyatt's thoughtful expansion within the leisure and business segments. We are excited for our guests traveling to Goa to embrace this lifestyle experience. Ronil Goa aligns seamlessly with the brand that encourages living in the moment, making it a perfect addition. We look forward to further enhancing our distinctive brand footprint throughout the sub-continent,” Sharma added.

In 2023, Hyatt’s brand footprint expanded in India with the openings of Hyatt Place Bodh Gaya, Hyatt Place Vijaywada, Hyatt Place Goa Candolim and Hyatt Centric Rajpur Road Dehradun. The expansion across leisure, corporate and spiritual tourism segments has strengthened Hyatt’s brand presence in India and the Southwest Asian region, offering travelers and World of Hyatt members more opportunities to stay at Hyatt hotels.

With these introductions, Hyatt’s India and Southwest Asia portfolio will have nine distinct brands, including Andaz, Alila, Park Hyatt, Grand Hyatt, Hyatt Regency, Hyatt, Hyatt Centric, Hyatt Place, and JdV by Hyatt. Moreover, Hyatt’s growing brand footprint in India will offer a balanced portfolio designed to provide unique and engaging guest experiences, coupled with Hyatt’s deep understanding of the local and global hospitality standards for which it is known.

Recent and upcoming introductions include:

Ronil Goa, which is part of the JdV by Hyatt brand, offers a collection of vibrant, independent hotels that are true reflections of urban neighborhoods. Ronil Goa embraces the charm of Indo-Portuguese architecture, evoking the cozy ambiance of a boutique lifestyle property with 12 guest houses comprising 135 guestrooms, including four suites. Ronil Goa is the perfect space for today’s modern lifestyle traveler seeking experiences and adventures in the serene city of Goa. Inspired by Hyatt’s commitment to care, the hotel supports sustainable practices like wooden sustainable key cards, VRV systems, sensor lights, a sewage treatment plant and a water treatment plant, among other practices.

Hyatt Regency Kasauli is in close proximity to Kasauli, a favored hill station and retreats in north India, popular for holidays, weekend getaways and retreats. Located at an elevation of 5900 feet, the hotel will offer sweeping views of the destination with 89 rooms and suites. Varied food and beverage offerings include an all-day dining outlet, a signature outdoor bar and pizzeria, and a lobby café and lounge. Additionally, the property will offer approximately 3,000 square feet of function space, an outdoor swimming pool, a spa, and a well-equipped fitness center.

Hyatt Regency Ghaziabad, the opening of Hyatt Regency Ghaziabad will be an important addition to our portfolio in the Delhi NCR region.  The hotel is located in close proximity to the industrial and commercial establishments as well as the affluent residential area. The hotel will feature 120 keys and approximately 19,000 square feet of event space that will make this hotel an ideal place to host social events and business meetings.

Hyatt Place Aurangabad will be the first Hyatt hotel in Aurangabad, blending modern comforts with Aurangabad’s rich cultural heritage. The hotel will offer 150 rooms, including six suites. The hotel’s food and beverage offerings will include an all-day restaurant, a rooftop bar and a grab-and-go outlet. For recreation and fitness, the hotel will feature an outdoor swimming pool and a fitness center.

Hyatt Place Dhaka Uttara will be the first Hyatt hotel in Bangladesh. The hotel will feature 85 spacious guestrooms including nine suites that offer views of the runway and city. The hotel will offer a fitness center and a temperature-controlled infinity-edge rooftop swimming pool. Intimate yet stylish, the hotel will also offer 1,500 square feet of meeting and event space.

Hyatt Place Haridwar will be the third Hyatt-branded property in Uttarakhand and the first international hotel in the land of Ganges. Featuring 110 thoughtfully appointed guestrooms with space to work or relax, the hotel will be conveniently located near popular local attractions and tourist destinations like the beautiful ghats, the historic temples and the sprawling gardens of Haridwar. Guests can even revel in the adventure of wildlife expeditions at Rajaji National Park. The hotel will offer a range of amenities such as a well-equipped fitness center, an outdoor pool, convenient dining options including all-day dining, complimentary breakfast, a bar, and a meeting room.

Hyatt Centric Ballygunge Kolkata will be the first Hyatt Centric hotel in the city of joy. Embracing the vibrant essence of Kolkata, the hotel is set to redefine hospitality by seamlessly merging contemporary elegance with an adventurous touch. The hotel pays homage to the city's rich cultural tapestry, unveiling 93 carefully designed guestrooms, including seven suites. The culinary experience at the hotel will offer sensory delight, featuring three thoughtfully conceptualized restaurants. For relaxation and fitness, the hotel will offer an outdoor pool and a well-equipped fitness center.  Additionally, it will provide versatile event spaces spanning approximately 4,200 square feet, ideal for both corporate gatherings and social events.

Hyatt Centric Hebbal Bengaluru will be the second Hyatt Centric hotel in Bengaluru. Located at Hebbal, a fast-growing business hub in the city with close proximity to multiple business parks, this lifestyle hotel will offer 152 rooms, suites and long-stay rooms. Dynamic food and beverage offerings will include an all-day dining outlet, a signature rooftop bar, and a lobby café and lounge. Additionally, the property will feature approximately 10,000 square feet of event space, an outdoor swimming pool, a spa, and a well-equipped fitness center.

The term “Hyatt” is used in this release for convenience in this release to refer to Hyatt Hotels Corporation and/or one or more of its affiliates..

Hyatt To Introduce New Home Rental Offering: Homes & Hideaways by World of Hyatt

The new offering to provide members access to a unique collection of short-term private home rentals giving even more meaningful ways for World of Hyatt members to unlock flexible travel experiences

Hyatt Hotels Corporation (NYSE: H) today announced plans for a new short-term vacation rental platform, Homes & Hideaways by World of Hyatt, that will feature private homes and remote hideaways in the United States. When the offering launches, which is expected in the coming weeks, World of Hyatt members will have direct booking access to a unique collection of short-term private home rentals from beachfront escapes to mountainside ski chalets, where they can earn and redeem points beyond the traditional hotel stay. 

The planned launch of Homes & Hideaways by World of Hyatt reinforces Hyatt’s commitment to providing more flexible stay experiences to suit the travel needs of every guest. The focus on the premium vacation rentals segment will allow members to unlock access to residential rental accommodations across the United States in key travel destinations like Hawaii, Colorado, and more, with plans to grow the platform globally.  

“We are committed to evolving access to the type of accommodations World of Hyatt members are seeking that go beyond our hotels – from a large family who travels together or guests looking to work from anywhere for an extended period of time,” said Amy Weinberg, senior vice president, brand, loyalty & data, Hyatt. “Homes & Hideaways by World of Hyatt brings a unique collection of curated homes which increases Hyatt's home offerings and expands new ways and new places where we can extend care to members.”

Leading up to the launch of Homes & Hideaways by World of Hyatt, Hyatt has identified a highly qualified company, Lowe, that, through an affiliate, will purchase and operate the existing vacation rental management business that is currently branded Destination Residences Management.  

In the near future, the Homes & Hideaways by World of Hyatt platform is expected to feature key existing DRM properties in top U.S. leisure destinations as part of offering members direct booking access to a collection of private homes featuring beachfront escapes, mountainside ski chalets, expansive villas, country chateaus, cozy cottages, modern townhouses, apartments, flats, penthouses and much more. While every property will be unique, each is professionally managed by thoroughly vetted property management companies to enjoy a quality experience.  

In the coming weeks, World of Hyatt members can benefit when they book their remote hideaway or hidden urban gem on the Homes & Hideaways by World of Hyatt platform. Homes & Hideaways by World of Hyatt member benefits will include earning points and tier-qualifying night credits on stays, as well as standard tier bonuses, and the ability to redeem points for stays at home rental properties. More locations, more experiences and more opportunities to earn and redeem.  

Secrets® Tulum Resort & Beach Club Expands to the Heart of Tulum

The 300-suite and private villa adults-only haven offers nature-inspired elegant design perfectly situated in the alluring Tulum.

Hyatt Hotels Corporation (NYSE: H) today announced the opening of Secrets® Tulum Resort & Beach Club, the newest addition to the Inclusive Collection, part of World of Hyatt – the largest portfolio of luxury all-inclusive resorts in the world. The 300-suite and private villa adults-only resort’s opening marks the expansion of the Inclusive Collection’s presence in Mexico to 44 total resorts and the 12th Secrets Resort & Spa branded property in the country.

Perfectly situated in the heart of downtown Tulum, just minutes from the beach within the luxury Aldea Zama Complex, Secrets Tulum Resort & Beach Club pays homage to the surroundings, offering a lavish ambiance with a lush and mystic jungle atmosphere. Minutes away from the property is Secrets Tulum Beach Club, providing a lively atmosphere and pristine beaches, while the nearby city of Tulum fuels exploration to the ancient Mayan sites. The resort, which also features a beachfront villa at the Secrets Tulum Beach Club, was designed by award winning architect Michael Edmond. With cenote-style architecture, circular buildings and peaceful courtyards, guests are surrounded by serene and modern environment in a romantic setting, with décor elements of water, wood, and endemic lush vegetation.

Hyatt Place Kuala Lumpur, Bukit Jalil Celebrates Official Opening

Hyatt Place Kuala Lumpur, Bukit Jalil offers:

• 250 spacious guestrooms with separate spaces to sleep, work and play, as well as a Cozy Corner sofa-sleeper

• All Day Dining restaurant featuring a wide array of international dishes and local delicacy to suit all guests’ needs

• The Market offering a variety of grab-and-go snacks and quick bites available anytime, day or night

• The Bar featuring premium beers, as well as wine and cocktails

• Necessities program for forgotten items that guests can borrow or enjoy for free

• Free Wi-Fi throughout hotel and guestrooms

• Event Spaces offer up to 4,520 square meters (420 square meters) of flexible, floor-to-ceiling meeting space 

• Fitness Center featuring cardio equipment and a yoga room

700 Room Andaz Macau Opens Doors as Largest Property within Andaz Brand Portfolio

Offering 700 uniquely appointed rooms and suites, the new property immerses guests into the center of Macau’s art and culture at the award-winning integrated Galaxy Macau™ resort

Hyatt Hotels Corporation (NYSE:H) announced today the opening of Andaz Macau in collaboration with Galaxy Macau™, the city’s prestigious luxury shopping, dining, entertainment and resort complex. The latest opening is the Andaz brand’s first and only hotel in Macau and its largest property globally. Inspired by the vibrant local art, culture, and architecture, the hotel features more than 700 uniquely appointed guest rooms and suites, immersing guests in the "real Macau." The hotel features a stunning collection of artworks and artifacts that tells the story of the city's soul through art, celebrating its heritage and future while allowing guests to express themselves through art.

"We are excited about collaborating with Galaxy Entertainment Group and introducing the Andaz brand to Macau,” said Stephen Ho, President of Growth and Operations for Asia Pacific at Hyatt. “This is a momentous occasion for us, and we believe our immersive and inspiring hotel experience will appeal to locals and tourists alike.

A striking architectural addition to the city, Andaz Macau’s two hotel towers are located between the picturesque and well-preserved neighborhoods of Old Taipa and Coloane. Guests can easily access the city’s charming traditional attractions and Galaxy Macau’s world-class facilities. With its direct connection to both Galaxy International Convention Center (GICC) and the 16,000-seat Galaxy Arena, as well as its dedicated check-in lounge explicitly designed to provide a seamless arrival for large groups, Andaz Macau offers unrivaled convenience for both convention center and leisure guests looking to fulfill their curiosities through their travels.

“Andaz Macau is brimming with exceptional social spaces, innovative bars and restaurants, and elegant event venues that are sure to impress and delight our guests,” said William Cheung, general manager of Andaz Macau. “Our primary aim is to provide an exciting hotel experience infused with the rich cultural heritage of Macau, igniting our guests' creativity, and inspiring them to express their unique styles and interests.”

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Hyatt Centric Brand to Debut in Africa with Plans for Hyatt Centric Cairo West

Hyatt Hotels Corporation (NYSE: H) announced that affiliates of Hyatt and ALDAU Development have entered into a franchise agreement to bring the full-service lifestyle brand, Hyatt Centric, to Egypt, with Hyatt Centric Cairo West.

The 283-key lifestyle hotel will become the second Hyatt-branded hotel in Cairo’s well-established Pyramids Heights Business Park, following the opening of Hyatt Regency Cairo West in 2021, further demonstrating Hyatt’s intentional brand growth in the Europe, Africa and Middle East region.

“We are proud to work with ALDAU Development to bring the Hyatt Centric brand to Egypt,“ said Ludwig Bouldoukian, regional vice president of development, Middle East and Africa, at Hyatt. “This signing is an exciting milestone as the hotel will mark the Hyatt Centric brand debut in Africa, showcasing our commitment to enhancing our lifestyle portfolio, and growing our brand presence in markets that matter most to our guests and World of Hyatt members.”

With a prime location at Cairo’s western end, by the city’s major business hubs and key tourist attractions, Hyatt Centric Cairo West will offer travellers a new way to stay in the Egyptian capital and provide a perfect launchpad to explore the surrounding neighbourhood.

Creating an art journey for the guest from the moment they arrive, the urban hotel’s design will blend cultural elements through the lens of local contemporary artists, incorporating décor that refers to Egyptian crafts, pharaonic heritage and the country’s pop culture. The property will also feature landscaped gardens, a heated outdoor pool, an art wall and inspiring indoor social spaces.

Eng. Bassel Sami Saad, Chairman of ALDAU Development, added: “We are delighted to collaborate with Hyatt to deliver our second distinctive hotel experience in this prime location. With the city’s key attractions easily accessible, including the Grand Egyptian Museum and Giza Pyramids, the lifestyle property will be the perfect fit for the cosmopolitan-minded business and leisure travellers looking for accommodation in this increasingly popular neighbourhood.”

Once open, Hyatt Centric Cairo West will be the second Hyatt branded hotel in Egypt, joining Hyatt Regency Cairo West, and is expected to join more than 50 hotels in the Hyatt Centric brand portfolio globally.

Hyatt Regency London Blackfriars Opens in the United Kingdom

The London hotel is the ninth Hyatt hotel opening in the city, signaling Hyatt’s expanding brand footprint in the United Kingdom

Hyatt Hotels Corporation announced today the opening of Hyatt Regency London Blackfriars. Marking a key milestone in Hyatt’s strategic brand growth in the UK capital, the 204-room hotel is the 14th property in the country, demonstrating the United Kingdom as a priority growth market within Hyatt’s diverse and evolving brand portfolio. In the last five years, Hyatt has increased its brand presence in the UK from five to 13 properties, with six of those based in London.

Housed in a grade II listed building on the former grounds of King Henry VIII’s Bridewell Palace, Hyatt Regency London Blackfriars claims a prime spot in London’s business and leisure district, home to global corporations, influential businesses, and law firms. Guests will be able to enjoy convenient access to all that the capital has to offer, with Blackfriars Underground and railway stations just a few minutes away. Many of London’s most popular attractions including St Paul’s Cathedral, Tate Modern and Shakespeare’s Globe are also within walking distance from the hotel.

In line with the Hyatt Regency brand ethos, the hotel has been intuitively designed for productivity and peace of mind, with an environment for guests to work, connect or relax. Well-appointed guestrooms and suites boast contemporary finishes, high-end amenities, and dedicated workspaces. Three dynamic and diverse food and beverage concepts are poised to become new local culinary destinations. Meanwhile a trio of versatile group spaces offer to host a wide range of meeting and events in this desirable central London location. Guests also benefit from access to a 24-hour state-of-the-art fitness center.

“We are delighted to welcome guests to Hyatt Regency London Blackfriars situated alongside our neighboring landmarks, businesses and cultural attractions,” said Laurent Schauder, general manager of Hyatt Regency London Blackfriars. “With our welcoming service, inventive food and beverage offerings and ideal location, Hyatt Regency London Blackfriars is soon to become the hotel of choice for anyone looking for a memorable experience in the heart of the city”.

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'Impression by Secrets'; The New, Adults-only, Luxury, All Inclusive, Hyatt Brand

Impression by Secrets Isla Mujeres in Mexico

Hyatt Hotels Corp. has elevated its luxury all-inclusive offerings with the launch of a new Inclusive Collection brand — Impression by Secrets. The adults-only brand was launched with the opening of Impression by Secrets Isla Mujeres in Mexico. 

Joining a portfolio of luxury all-inclusive brands, the 125-suite Impression by Secrets brand offers personalized service and amenities through the enhanced Endless Privileges concept.  

The property, located atop a coastal cliff on the island’s southern end, provides views of the Caribbean Sea and the Atlantic Ocean. The property was built with natural elements such as bamboo and local wood, emphasizing the island’s sanctuary environment.

The property features artwork by Mexican artist Cesar López Negrete. 

Hyatt’s Inclusive Collection currently includes 10 resort and hotel brands.  

“The launch of the new Impression by Secrets brand solidifies our leadership as the world’s largest provider of luxury all-inclusive experiences and exemplifies the remarkable depth of our portfolio, which boasts over 120 resorts globally,” said Gonzalo del Peón, group president, Global Commercial, Inclusive Collection, Hyatt. “With unwavering dedication, we affirm our commitment to meeting the ever-changing needs of valued guests, members, and owners, ensuring a radiant future for the Impression by Secrets brand.” 

NEWS | Hyatt Reports Second-Quarter 2021 Results

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "Second quarter results improved significantly as travel demand rebounded sharply in certain markets. While leisure travel continues to lead the recovery, we are very encouraged by continued improvements in business transient and group. Accelerating RevPAR growth expanded our operating leverage and as a result we generated positive Adjusted EBITDA and operating cash flow in the quarter."

Second quarter of 2021 highlights are as follows:

• Net losses decreased compared to the second quarter of 2020 to a $9 million net loss.

• Adjusted EBITDA increased compared to the second quarter of 2020, to $55 million.

• Comparable system-wide RevPAR increased to $72.47 in the second quarter of 2021, and decreased 49.8% compared to the second quarter 2019 on a reported basis.

• Comparable owned and leased hotels RevPAR increased to $86.66 in the second quarter of 2021 and decreased 53.4% compared to the second quarter 2019 on a reported basis.

• Net rooms growth of 7.1%.

• As of June 30, 2021, the Company had cash, cash equivalents and short-term investments of $1,737 million.

Mr. Hoplamazian continued, "While the recovery is likely to remain uneven over the coming months, we remain confident in continued momentum in RevPAR growth given positive forward-looking indicators in our business. Furthermore, the strength of our brands continues to yield industry-leading net rooms growth. We opened 100 properties over the last twelve months and maintain a strong pipeline representing over 40% of our existing rooms."

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Hyatt Reports First-Quarter 2021 Results - a net loss of $304 million

First quarter of 2021 highlights are as follows:

• Net losses increased compared to the first quarter of 2020 to a net loss of $304 million. The net loss included a $193 million non-cash full valuation allowance on U.S. deferred income tax assets.

• Adjusted EBITDA decreased 123.3% compared to the first quarter of 2020, to $(20) million.Comparable system-wide RevPAR decreased 48.9% compared to the first quarter of 2020, and decreased 65.4% compared to the first quarter 2019 on a reported basis.1

• Comparable owned and leased hotels RevPAR decreased 64.4% compared to the first quarter of 2020, and decreased 72.5% compared to the first quarter 2019 on a reported basis.1

• Net rooms growth of 6.5%.Pipeline of executed management or franchise contracts for approximately 100,000 rooms.

• As of March 31, 2021, the Company had cash, cash equivalents and short-term investments of $1,628 million.

Mr. Hoplamazian continued, "While risks do remain in the management of the pandemic, we are optimistic about continued growth of demand in the coming months and the balance of 2021. The demand levels we saw in March have continued through April. While leisure travel continues to lead the recovery, we are encouraged by positive indicators across other travel segments as well."

GM Of The Day Initiative @ Grand Hyatt Mumbai

CHRIS K. FRANZEN, Area Vice President –  West India & General Manager –  Grand Hyatt Mumbai Hotel & Residences has been running the GM of the Day Initiative for a while now. A best practice from his days in Oman, Qatar and now India. We at hospemag loved it!

Shashank Pathare was assigned to be the ‘General Manager of the Day’ on 18 January 2021.

Below is the initiative in detail.

GM of the Day - January 2021 - Grand Hyatt Mumbai by Prabhjot Bedi on Scribd

More about Mumbai Grand Hyatt

Hyatt partners with Story Hotels for three Sweden properties

Hyatt has entered into franchise agreements with Story Hotels Holding to bring three hotels in Sweden under the JDV Hotel brand.

The move is designed to help to grow the Hyatt independent collection brand in Europe.

The three boutique hotels – Story Hotel Riddargatan and Story Hotel Signalfabriken in Stockholm, as well as Story Hotel Studio Malmö – will all retain their individual hotel names and unique identities.

The three hotels will be available for reservation from today for stays starting April 15th.

“We are very excited to bring these three Story Hotels in Europe under Hyatt’s JDV Hotel brand portfolio and at the same time grow the Hyatt hotel footprint in Sweden,” said Briana Swift, director of development Europe and south-west Asia at Hyatt.

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Hyatt Announces Plans for First Property in Sweden with Hotel Reisen

Hyatt Hotels Corporation (NYSE:H) announced today that a Hyatt affiliate has entered into a franchise agreement with First Hotel Reisen AB to open the first Hyatt property in Sweden. Hotell Reisen is currently undergoing extensive refurbishment and will be available on Hyatt's booking system on an unbranded basis as of December 1, 2020 with plans to join The Unbound Collection by Hyatt brand in early 2021. In the Nordics, the hotel will join the planned Grand Hansa Hotel in Helsinki, Finland as part of The Unbound Collection by Hyatt and Hyatt Centric Reykjavík in Reykjavik, Iceland. The three hotels represent strategic cornerstones in Hyatt’s expansion plans for Northern Europe.

Located in the heart of Stockholm’s old town directly on the waterfront and on Skeppsbron, Hotell Reisen is rich in history, dating back to the 17th century. The property will offer cultural moments for guests seeking a sophisticated yet unscripted experience, as it will be located within walking distance of many of Stockholm’s landmark attractions. Independent-minded travelers can experience highlights of the city including The Royal Palace and the ferry to Djurgården, bringing guests to the tranquil oasis that is home to many of the city’s most famous museums and cultural attractions.

At Hyatt, we are focused on thoughtful growth based on locations that matter most to our guests, World of Hyatt members and customers, and Stockholm has been a priority market for some time,” said Peter Norman, senior vice president of development Europe, Hyatt. “While Stockholm is known for its high barrier to entry for global brands, the rich history and unique location in central Stockholm make Hotell Reisen a perfect addition to The Unbound Collection by Hyatt brand. This brand has seen great momentum across the region, as each property celebrates their destination’s distinct culture and atmosphere, and we look forward to expanding the brand’s footprint in the Nordics.”

The name of Reisen originates from a 1750’s coffee house run by a Dutchman, Frederik Reiss. As the coffee house was a popular meeting space for merchants and travelers from all over the world, Frederik Reiss’s daughter soon started to rent rooms in the early 19th century. Ever since, the building has been in use as a hotel and today is a celebration of the vibrant and rich history of Sweden’s capital.

“We are delighted to work alongside Hyatt for the first Hyatt hotel in Sweden,” said Anders Moe, CEO of Host AB which owns First Hotel Reisen AB. “In creating a destination that locals and guests from afar will treasure, Hotell Reisen will honor the history of the building and the city. The combination of our expertise in Sweden’s hospitality market and Hyatt’s international reputation will allow for our vision to come to life.”

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Hyatt Announces Plans for Thompson Monterrey

Hyatt Hotels Corporation (NYSE: H) announced plans for Thompson Monterrey, the first Thompson hotel in Mexico’s state of Nuevo León. The 150-room lifestyle hotel is expected to open in 2022 and will mark the fourth Thompson-branded property in Mexico.

“Thompson Monterrey comes at a time of significant growth for the Thompson Hotels brand and will represent the brand’s entry into a key new market,” said Alfredo Reynoso, director of  development, Mexico, Hyatt. “The Thompson brand aligns very well with Monterrey’s position as a business and entertainment destination, and we look forward to introducing a new lifestyle offering that will provide experiences that celebrate its destination in a sophisticated way for guests and locals alike.”

Developed by Visa Desarrollos and Grow2, Thompson Monterrey will be located in the San Pedro Garza García, a contemporary financial and commercial area of Monterrey in the state of Nuevo León. Located near headquarters for many national and multinational companies and university campuses, the hotel will be part of Torre IKON, a new-build mixed-use complex with aproximately 215,000 square feet (20,000 square meters) of office space. Thompson Monterrey will occupy a portion of the 31-floor tower designed by Duda Paine Architects, which is set to be one of the most iconic high-rise buildings in the San Pedro Garza García.    

Thompson Monterrey will provide a truly superior experience with just the right amount of edge to the San Pedro Garza García through its thoughtfully curated design, culinary sophistication, and effortless yet intuitive service. From the moment guests arrive, they will experience elements of Monterrey’s culture in the hotel’s sought-after hub – its rooftop bar – which will reflect the guests’ authentically stylish and dynamic lifestyles with a buzzing social scene and thought-provoking arts and entertainment.

Hyatt Regency Oryx Doha opening September 15, 2020

Hyatt Regency Oryx Doha, which will mark the first Hyatt Regency branded hotel in Qatar and the third Hyatt hotel in the country. The hotel is expected to open as Hyatt Regency Oryx Doha on September 15, 2020.

The 400-room hotel will be strategically located close to Hamad International Airport and a few minutes from the heart of the city, the palm-fringed corniche and Doha's vibrant business district, offering the perfect destination for both business and leisure travelers alike.

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Hyatt Announces Face Coverings Requirement for Guests at Hotels in the U.S. and Canada

 At Hyatt, the safety and security of our colleagues and guests is always a top priority. Guided by our purpose – to care for people so they can be their best – and following medical expert guidance to help reduce the spread of COVID-19, beginning Monday, July 27, for the foreseeable future, all Hyatt hotels in the U.S. and Canada will require face coverings within indoor public areas, which include meetings and events spaces, restaurants and bars, and fitness centers. Some guests may be exempt from this mandate, including but not limited to people with medical conditions, consuming food or beverages in restaurants, and children under the age of two years.

Guests who are not wearing face coverings indoors will be asked to wear one, and at all Hyatt hotels, face masks will be made available to guests who do not have one. Additionally, Hyatt hotels request all guests practice proper social distancing in indoor and outdoor public areas, and social distancing guidelines are prominently placed throughout all hotels.

Hyatt will continue to require colleagues to wear face masks – and additional personal protective equipment based on job specifications – at all Hyatt hotels globally. In April, Hyatt introduced the Global Care & Cleanliness Commitment (hyatt.com/care-and-cleanliness) which prioritizes the safety and wellbeing of colleagues and guests through enhanced business and operational practices during the COVID-19 pandemic and beyond at all Hyatt hotels globally.

“This new policy comes at a pivotal time amidst the ongoing challenges of COVID-19 and helps us care for the health and safety of our guests and colleagues,” said Mark Hoplamazian, president and CEO, Hyatt. “In an effort to enable safe travel, we support AHLA’s recently expanded Safe Stay initiative and traveler checklist that help us come together as an industry to promote clear guidelines, which for the foreseeable future include the wearing of face coverings in indoor public spaces and practicing social distancing throughout the hotel.”

As the COVID-19 pandemic continues to evolve, Hyatt remains committed to supporting industry partners like AHLA and following medical expert guidance that supports face coverings and social distancing as successful ways to mitigate the spread of the virus. Hyatt will continue to closely monitor the situation as well as local government mandates and consider expanding this mandate to other regions.

Hyatt Reports First-Quarter 2020 Results

RevPAR Decline of 28% Due to COVID-19 Pandemic; Net Rooms Growth of Over 6%

First-quarter of 2020 financial highlights as compared to the first quarter of 2019 are as follows:

• Net income (loss) decreased 262.8% to a net loss of $103 million.

• Adjusted EBITDA decreased 54.3% to $86 million, a decrease of 53.9% in constant currency.

• Comparable system-wide RevPAR decreased 28.1%, including a decrease of 25.8% at comparable owned and leased hotels.

• Comparable U.S. hotel RevPAR decreased 24.5%; full-service hotel RevPAR decreased 25.2% and select-service hotel RevPAR decreased 23.0%.

• Net rooms growth was 6.3% in the first quarter of 2020.

• Comparable owned and leased hotels operating margin decreased 1,060 basis points to 14.5%.

• Adjusted EBITDA margin of 18.3% decreased 1,010 basis points in constant currency.

OPENINGS AND FUTURE EXPANSION

Twelve hotels (or 1,820 rooms) opened in the first quarter of 2020, contributing to a 6.3% increase in net rooms compared to the first quarter of 2019.

As of March 31, 2020, the Company had executed management or franchise contracts for approximately 500 hotels (approximately 101,000 rooms), compared to approximately 455 hotels (approximately 91,000 rooms) at March 31, 2019.