Hyatt Hotels (H) Company Report

Thomas J. Pritzker has retired as Executive Chairman of the Board of Directors and will not seek re-election, effective immediately.
Mark S. Hoplamazian, Hyatt’s President and Chief Executive Officer, has been appointed to succeed Mr. Pritzker as Chairman of the Board, effective immediately.
Mr. Hoplamazian will now hold the combined role of Chairman of the Board and Chief Executive Officer.
Mr. Pritzker served as a member of Hyatt’s Board and as Executive Chairman since August 2004, with senior executive and Chairman responsibilities for predecessor entities starting in 1980.

Feb 16, 2026, 6:15 PM

Press Release

Hyatt Hotels Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Outlook

Earnings

Guidance Update

M&A

Hyatt Hotels reported Q4 2025 system-wide RevPAR growth of 4% and full-year 2025 gross fees of $1.198 billion, an increase of 9%.
The company achieved net rooms growth of 7.3% in 2025 and ended the year with a record development pipeline of approximately 148,000 rooms, up over 7% compared to the end of 2024.
Hyatt completed its transformation to an asset-light business model, including the sale of the remaining 14 hotels in the Playa portfolio for approximately $2 billion, and expects 90% asset-light earnings in 2026.
For 2026, Hyatt anticipates system-wide RevPAR growth between 1%-3%, gross fees between $1.295 billion and $1.335 billion, and adjusted free cash flow between $580 million and $630 million.
The company plans to return between $325 million and $375 million of capital to shareholders through share repurchases and dividends in 2026.

Feb 12, 2026, 3:00 PM

Transcript

Hyatt Hotels Reports Full Year 2025 Results and Provides 2026 Outlook

Earnings

Guidance Update

Share Buyback

Hyatt Hotels reported a Net Loss of $(52)M and Diluted EPS of $(0.55) for the full year 2025, with Adjusted EBITDA of $1,159M and Gross Fees of $1,198M. The company also achieved Adjusted Free Cash Flow of $474M for the year.
Operationally, the company experienced System-Wide Hotels RevPAR Growth of +2.9% and Net Rooms Growth of +7.3% in 2025.
For the full year 2026, Hyatt projects Net Income between $235M and $320M, Gross Fees between $1,295M and $1,335M, and Adjusted EBITDA between $1,155M and $1,205M. This outlook implies an expected Gross Fees Growth of 8% to 11% and Adjusted EBITDA Growth of 13% to 18% compared to 2025.
The company plans to return $325M to $375M to shareholders in 2026 and has a share repurchase authorization of $678M. A quarterly dividend of $0.15 was also noted.

Feb 12, 2026, 3:00 PM

Presentation

Hyatt Hotels Reports Q4 2025 Results and Provides 2026 Outlook

Earnings

Guidance Update

Share Buyback

Hyatt Hotels reported Q4 2025 system-wide RevPAR growth of 4% and full-year 2025 gross fees increased 9% to $1.198 billion.
The company completed its transformation to an asset-light business, selling the remaining 14 hotels in the Playa portfolio for approximately $2 billion and expects 90% asset-light earnings in 2026.
Hyatt provided a 2026 outlook with expected system-wide RevPAR growth of 1%-3%, gross fees between $1.295 billion-$1.335 billion, and Adjusted EBITDA between $1.155 billion-$1.205 billion.
The company plans to return between $325 million and $375 million of capital to shareholders in 2026 through share repurchases and dividends, following $350 million returned in 2025.

Feb 12, 2026, 3:00 PM

Transcript

Hyatt Hotels reports strong Q4 2025 results and provides 2026 outlook

Earnings

Guidance Update

M&A

Hyatt Hotels reported Q4 2025 system-wide RevPAR growth of 4% and completed its asset-light transformation by selling the remaining 14 hotels in the Playa portfolio for approximately $2 billion, expecting 90% asset-light earnings in 2026.
For the full year 2025, gross fees increased 9% to $1.198 billion and Adjusted EBITDA grew over 7% (adjusted for asset sales). The company also returned approximately $350 million to shareholders through share repurchases and dividends.
Hyatt provided a 2026 outlook including system-wide RevPAR growth of 1%-3%, gross fees between $1.295 billion and $1.335 billion, and Adjusted EBITDA between $1.155 billion and $1.205 billion.
The company expects net rooms growth of 6%-7% in 2026 and plans to return $325 million to $375 million to shareholders.

Feb 12, 2026, 3:00 PM

Transcript

Hyatt Hotels Corporation Reports Q4 and Full Year 2025 Results and Provides 2026 Outlook

Earnings

Guidance Update

Accounting Changes

Hyatt Hotels Corporation reported a net loss of $(20) million and Adjusted Net Income of $126 million for the fourth quarter of 2025, with full-year 2025 net loss at $(52) million and Adjusted Net Income at $209 million.
For the full year 2025, Gross Fees increased 9.0% to $1,198 million, and Adjusted EBITDA increased 5.8% to $1,159 million compared to 2024.
The company achieved 7.3% net rooms growth and 2.9% comparable system-wide hotels RevPAR growth for the full year 2025.
Hyatt provided a 2026 outlook, projecting Gross Fees between $1,295 million and $1,335 million and Adjusted EBITDA between $1,155 million and $1,205 million.
Starting in the first quarter of 2026, the company adjusted its definition of Adjusted EBITDA to no longer include Hyatt's pro rata share of unconsolidated owned and leased hospitality ventures' Adjusted EBITDA.

Feb 12, 2026, 11:58 AM

8-K

Hyatt Reports Record 2025 Development Pipeline and U.S. Signings

New Projects/Investments

Revenue Acceleration/Inflection

Hyatt concluded 2025 with a record development pipeline of roughly 148,000 rooms, marking a 7% increase from 2024 and positioning the company for significant growth momentum in 2026.
The company achieved its highest number of U.S. room signings in five years, with signings rising approximately 30% and over 80% of the U.S. pipeline consisting of new-build projects.
The World of Hyatt loyalty program now exceeds 63 million members, with members staying 62% more nights and spending 93% more than non-members, highlighting its material revenue uplift.
Hyatt also saw strong Asia Pacific expansion, including a more than 50% rise in its Essentials pipeline in Greater China and sizeable increases in India and Indonesia.

Jan 26, 2026, 12:13 PM

Morningstar

Hyatt Hotels Reports Record Global Pipeline and Strong 2025 Signings

New Projects/Investments

Revenue Acceleration/Inflection

Hyatt Hotels Corporation concluded 2025 with a record global pipeline of approximately 148,000 rooms, marking a 7% increase compared to 2024 and representing about 40% of its total room base.
In the U.S., Hyatt achieved its highest number of room signings in five years, increasing by 30% compared to 2024, with over 80% of the U.S. pipeline being new builds.
The company experienced strong growth in Asia Pacific, with room signings increasing by nearly 90% in India and 46% in Indonesia, and the Essentials portfolio pipeline in Greater China growing by more than 50% compared to 2024.
New brands, including Unscripted by Hyatt, Hyatt Select, and Hyatt Studios, accounted for over 65% of all new U.S. deals in 2025.

Jan 26, 2026, 12:00 PM

Press Release

Hyatt completes Playa portfolio sale

M&A

Guidance Update

New Projects/Investments

Hyatt completed the sale of its Playa Hotels & Resorts real estate portfolio to Tortuga Resorts for approximately $2 billion on December 30, 2025.
As part of the transaction, Hyatt retained long-term management agreements for the majority of the properties, allowing them to continue operating under Hyatt Inclusive Collection brands and transitioning the company to a more asset-light, fee-based business model.
Hyatt retained $200 million in preferred equity and may receive up to $143 million in contingent consideration from the deal, with freed capital intended for debt repayment.
The company warned of near-term earnings pressure and cut its 2025 Adjusted EBITDA outlook following the transaction.

Dec 30, 2025, 9:28 PM

Morningstar

Hyatt Completes $2.0 Billion Sale of Playa Real Estate Portfolio

M&A

Guidance Update

Hyatt Hotels Corporation completed the sale of the real estate portfolio previously acquired from Playa Hotels & Resorts N.V. to Tortuga Resorts for a total of $2.0 billion.
The transaction, which closed on December 30, 2025, involved the sale of 14 properties to Tortuga and one property previously sold to a third party.
Hyatt can achieve up to an additional $143 million earnout if certain operating thresholds are met and has retained $200 million of preferred equity in Tortuga.
Concurrent with the sale, Hyatt and Tortuga entered into 50-year management agreements for 13 of the 14 properties, supporting Hyatt's asset-light business model.
Hyatt updated its 2025 full-year outlook, decreasing the Adjusted EBITDA outlook for Playa by $10 million due to Hurricane Melissa and expecting its own Adjusted EBITDA (excluding Playa) to be at the low end of the $1,090 million to $1,110 million range.