First Free Story (1 of 3)Join Skift Pro
Hyatt’s fourth-quarter results were mixed, as a key revenue metric improved.
The hotel operator earned $37 million, or 26 cents per share, for the three months ended Dec. 31. A year earlier the Chicago-based company earned $182 million, or $1.20 per share.
The prior-year period included a large gain tied to real estate sales.
Earnings, adjusted for non-recurring gains, were 21 cents per share.
This fell short of the 24 cents per share that analysts surveyed by Zacks Investment Research predicted.
Revenue came in at $1.11 billion, topping the $1.09 billion that Wall Street expected.
Revenue per available room, or revpar, for owned and leased hotels rose 2.1 percent. Comparable U.S. full service hotel revpar gained 4.9 percent and climbed 6.3 percent for select service hotels. Comparable systemwide revpar edged up 0.9 percent.
Revpar is a key gauge of a lodging company’s performance.
For the year, Hyatt Hotels Corp. posted an adjusted profit of 90 cents per share on revenue of $4.33 billion.
Elements of this story were generated by Automated Insights using data from Zacks Investment Research.