Hyatt Hotels beats by $0.09; boosts FY17 guidance for systemwide RevPAR, net income, and adjusted EBITDA (62.82)
- Reports Q3 (Sep) earnings of $0.26 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $0.17.
- Comparable systemwide RevPAR increased 1.6%, including a decrease of 1.1% at comparable owned and leased hotels. Excluding the impacts of Jewish holiday timing and natural disasters, comparable systemwide RevPAR increased 2.6% and comparable owned and leased RevPAR increased 0.5%.
- Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "Our third quarter results reflect continued, upward momentum in our business, with solid systemwide RevPAR growth, a double-digit percentage increase in our fee revenue and an expansion of our development pipeline. We continue to have sustained growth in our base of hotel rooms and remain on track for a record number of hotel openings in 2017. Given these results, we have increased the midpoint of our full-year outlook for RevPAR and Adjusted EBITDA."
- The Company is revising the following information for the 2017 fiscal year:
- Comparable systemwide RevPAR is expected to increase approximately 2.5% to 3%, compared to fiscal year 2016. The Company's previous expectation was 1% to 3%.
- Net income is expected to be approximately $193 million to $210 million, compared to the previous expectation of $173 million to $201 million.
- Adjusted EBITDA is expected to be approximately $805 million to $815 million, compared to the previous expectation of $795 million to $815 million.
- The Company is announcing plans to sell approximately $1.5 billion of real estate over the next three years