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The US hotel group has significantly reduced its net losses in the first quarter of 2022. These have been reduced to $73 million, or $0.67 per share, from $304 million or $2.99 per share in the first three months of 2021.
Another positive sign is that RevPAR (the indicator that multiplies the average daily room rate by its occupancy rate) has increased significantly during the first four months of the year, i.e. 37% above 2019 in January, but slightly less so in April (+9%). In April, the Americas and the EAME (Europe, Africa and Middle East)-Asia zones had thus exceeded their 2019 levels by 3% and 1% respectively. The Americas were boosted by their luxury brands (+10% growth vs. last year), representing a 30% increase over 2019.
Global RevPAR was up 107% to $93 and US hotels up 126% to $104.45.
Record levels in leisure.
“We are well positioned for recovery as evidenced by our quarterly results,” said Mark S. Hoplamazian, President and CEO of Hyatt Hotels Corporation. “The record level of leisure demand, which reached nearly 60 percent of rooms thanks to the outperformance of our resorts and all-inclusive properties, is a major factor in our success. We expect this level of recovery to continue to grow and consolidate in the coming months, given the current and expected pace of business and group travel bookings. As such, our forecast remains very optimistic for demand in 2022, given our RevPAR, which showed further acceleration in April compared to March..”
In April, the projection for overall comparable revenues going forward was about 1% lower than 2019 and up 6% if Greater China is excluded. And in the US, the group’s room revenues, already booked for the rest of the year in full-service hotel complexes, were even up 42% !
In the first quarter of 2022, 13 new hotels (2,690 rooms) joined the Hyatt Group, bringing its portfolio (owned or franchised) to 540 hotels, and approximately 113,000 rooms.
Read also > THE MOST BEAUTIFUL HOTELS IN THE WORLD REVEALED BY CONDÉ NAST TRAVELLER
Featured photos : © Hyatt[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
The US hotel group has significantly reduced its net losses in the first quarter of 2022. These have been reduced to $73 million, or $0.67 per share, from $304 million or $2.99 per share in the first three months of 2021.
Another positive sign is that RevPAR (the indicator that multiplies the average daily room rate by its occupancy rate) has increased significantly during the first four months of the year, i.e. 37% above 2019 in January, but slightly less so in April (+9%). In April, the Americas and the EAME (Europe, Africa and Middle East)-Asia zones had thus exceeded their 2019 levels by 3% and 1% respectively. The Americas were boosted by their luxury brands (+10% growth vs. last year), representing a 30% increase over 2019.
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The US hotel group has significantly reduced its net losses in the first quarter of 2022. These have been reduced to $73 million, or $0.67 per share, from $304 million or $2.99 per share in the first three months of 2021.
Another positive sign is that RevPAR (the indicator that multiplies the average daily room rate by its occupancy rate) has increased significantly during the first four months of the year, i.e. 37% above 2019 in January, but slightly less so in April (+9%). In April, the Americas and the EAME (Europe, Africa and Middle East)-Asia zones had thus exceeded their 2019 levels by 3% and 1% respectively. The Americas were boosted by their luxury brands (+10% growth vs. last year), representing a 30% increase over 2019.
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