Hospitality major Hyatt Hotels Corp. (H), on Thursday, reported fourth quarter net income attributable to company of $294 million compared to a loss of $29 million, last year. Profit per share was $2.69 compared to a loss of $0.26. Net income in the fourth quarter included a non-cash benefit of $250 million due to the release of a valuation allowance on U.S. federal and state deferred taxes.
Adjusted net income attributable to Hyatt was $278 million compared to a loss of $306 million, previous year. Adjusted profit per share was $2.55 compared to a loss of $2.78. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.33, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA increased to $232 million from $112 million, previous year. Apple Leisure Group or ALG contributed $43 million of adjusted EBITDA in the fourth quarter.
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