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

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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."