Hyatt Q2 driven by strong business travel bookings
Hyatt Hotels has been buoyed by "strong performance" in business and group travel in the second quarter of 2024
The company saw a continued recovery in travel demand, but lowered its full-year room revenue guidance in anticipation of a potential slowdown ahead.
Key takeaways
- Hyatt's global revenue per available room increased 4.7% year-over-year. European hotels jumped 11.8% as many affluent Americans visited the U.K. and continental Europe;
- "Our business transient segment had the highest growth rate [among segments] during the quarter, with revenue up approximately 14%," Hoplamazian said;
- Group room revenue was up approximately 8%. Looking ahead, Hyatt sees group bookings increasing 7% in the second half of 2024 and 7.5% in 2025.
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