Hyatt posts sustained solid growth

[caption id="attachment_104077" align="alignleft"] Mark S. Hoplamazian
[/caption] HYATT Hotels Corporation reported third quarter 2016 financial results. Net income attributable to Hyatt was $62 million, or $0.47 per diluted share, in the third quarter of 2016, compared to $25 million, or $0.18 per diluted share, in the third quarter of 2015. Adjusted net income attributable to Hyatt was $61 million, or $0.47 per diluted share, in the third quarter of 2016 compared to $42 million, or $0.30 per diluted share, in the third quarter of 2015. Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said “we reported another quarter of solid growth, propelled by the strength of our brands. Adjusted EBITDA grew about 12% in the quarter, excluding the impact of transactions and foreign currency translation. Once again, we saw relative strength in the Americas region, driven primarily by group business. Our outlook for the overall business for the remainder of 2016 is positive, and we reconfirm our expectations for comparable system-wide RevPAR growth in a range of approximately 2% to 3% for the year.” Hoplamazian added: “Looking ahead, we believe we are well positioned to deliver against our growth strategy, by serving the needs of high-end travelers. Additionally, given our executed contract base of approximately 61,000 rooms, or more than 35% of our current room base, we believe our portfolio of high-quality brands is poised for meaningful and sustainable growth. Last week, we announced an exciting new loyalty program, World of Hyatt, which we expect will drive even higher levels of guest preference once it officially launches in March of next year. With the positive momentum we see in our business, we expect another year of solid growth in 2017.” — SG