Hyatt sees ‘normalized’ US RevPAR growth
Hyatt posted a system-wide hotel RevPAR increase of 5.5% year on year in first-quarter 2024 earnings results
In a recent earnings call with analysts, Hyatt noted that travel remains robust across all customer segments. The company mentioned that the timing of Easter compared to last year had a positive impact on leisure travel in March, but a negative impact on group and business travel.
Key takeaways
- Business transient revenue grew 6% year-over-year, a clear sign of the continued recovery in business travel, particularly in the US;
- Hyatt's pipeline grew 10% year-over-year in the first quarter to a record 129,000 rooms. The company also added 12 new hotels to its portfolio during the quarter;
- The World of Hyatt loyalty program experienced significant growth in the first quarter, with membership increasing 22% year-over-year to approximately 46 million members at the end of the first quarter.
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