Hyatt Reports Fourth Quarter And Full Year 2025 Results

Hyatt Hotels Corporation reported fourth quarter and full year 2025 results. Highlights include:

Financial Performance
- RevPAR Growth:
- Hotels: +4.0% in Q4, +2.9% full year.
- All-inclusive resorts: +8.3% in Q4, +8.6% full year.
- Net Rooms Growth: +7.3% (6.7% excluding acquisitions).
- Pipeline: ~148,000 rooms under executed contracts (+7% vs. 2024).
- Net Income: Loss of $20M in Q4 and $52M full year.
- Adjusted Net Income: $126M in Q4, $209M full year.
- Adjusted EBITDA: $292M in Q4 (+14.6% YoY), $1.16B full year (+5.8% YoY).
- Gross Fees: $307M in Q4 (+4.5% YoY), $1.2B full year (+9% YoY).

Operational Highlights
- Luxury & Upper Upscale segments drove Q4 RevPAR growth.
- Leisure transient travel remained strongest, with group travel also strong.
- Asia Pacific performance contributed significantly to incentive management fees.

Openings in Q4:
8,253 rooms, including:
- Park Hyatt Cabo del Sol (Mexico).
- Andaz One Bangkok (Thailand).
- Hyatt Studios Huntsville (USA).

Strategic Moves
- Playa Hotels Acquisition (2025): $2.6B deal, followed by $2B real estate portfolio sale to Tortuga Resorts with long-term management agreements.
- Pipeline Growth:
- U.S. signings up ~30% YoY.
- Asia Pacific pipeline up 7%, especially in Greater China and India.

Balance Sheet:
- Debt: $4.3B.
- Liquidity: $2.3B.
- Share repurchases: $293M in 2025.
- Dividend declared: $0.15/share for Q1 2026.

2026 Outlook
- RevPAR Growth: 1–3%.
- Net Rooms Growth: 6–7%.
- Net Income: $235M–$320M (vs. $52M loss in 2025).
- Gross Fees: $1.295B–$1.335B (+8–11%).
- Adjusted EBITDA: $1.155B–$1.205B (+13–18%).
- Free Cash Flow: $580M–$630M (+22–33%).
- Capital Returns: $325M–$375M expected via dividends and buybacks.

Hyatt’s results show strong operational momentum despite headline net losses, with growth driven by luxury, all-inclusive, and Asia Pacific markets. The Playa acquisition and subsequent asset sales reshaped its portfolio toward a more asset-light, brand-focused model.