Hyatt Reports First-Quarter 2020 Results

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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.