Hyatt Rides Business Travel Wave but Trims Hotel Outlook
Skift Take
Hyatt enjoyed a continued recovery in travel demand in the second quarter but did lower its full-year guidance for room revenue on Tuesday ahead of a possible softening to come.
"What we're seeing is a sort of evening out of demand over time," said Hyatt president and CEO Mark Hoplamazian on an earnings call.
"Overall, I would say that the general level of demand has been maintained at a very high level — significantly above the levels that we experienced in pre-pandemic times," Hoplamazian said.
Hyatt’s global revenue per available room rose 4.7% year-over-year. European hotels jumped 11.8% as many well-off Americans visited Britain and continental Europe.
"Our business transient customer segment had the largest growth rate [among segments] during the quarter, with revenue up approximately 14%," Hoplamazian said.
Room revenue from group bookings increased by about 8%. Looking ahead, Hya
