Hyatt Hotels Corp. (H) reported Thursday a loss in its third quarter, compared to prior year's profit, despite higher revenues and slightly higher comparable system-wide hotels RevPAR. Further, the company updated fiscal 2025 outlook.
In pre-market activity, the shares were gaining around 4.3 percent to trade at $144.00.
In the third quarter, net loss attributable to the company was $49 million or $0.51 per share, compared to prior year's profit of $471 million or $4.63 per share.
Adjusted net loss was $29 million or $0.30 per share, compared to $96 million or $0.94 per share a year ago.
The Wall Street analysts on average expected the company to report earnings of $0.49 per share. Analysts' estimates typically exclude special items.
Total revenues grew to $1.786 billion from last year's $1.629 billion. The Street expected revenues of $1.81 billion.
Comparable system-wide hotels RevPAR increased 0.3 percent, compared to the prior year. Net rooms growth was 12.1 percent and net rooms growth excluding acquisitions was 7.0 percent.
Looking ahead for fiscal 2025, excluding the impact of the Playa Hotels Acquisition and the pending Playa Real Estate deal, the company now expects net income between $70 million and $86 million, adjusted EBITDA between $1.09 billion and $1.11 billion, an increase of 7 percent to 9 percent; as well as comparable system-wide hotels RevPAR growth between 2 percent to 2.5 percent.
The company previously projected net income between $135 million and $165 million, adjusted EBITDA between $1.085 billion and $1.130 billion, comparable system-wide hotels RevPAR growth between 1 percent to 3 percent.
The outlook has been adjusted to reflect the potential impact from Hurricane Melissa.
The revised outlook reflects a drop of 93 percent to 95 percent in net income from last year's profit of $1.30 billion, while adjusted EBITDA reflects a growth of 7 percent to 9 percent from $1.016 billion a year ago.
System-wide RevPAR outlook implies fourth quarter growth of 0.5 percent at the low end of range and 2.5 percent at the high end of range.
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