Hyatt Hotels Corp (NYSE:H) reported second-quarter FY23 sales growth of 15% year-on-year to $1.71 billion, beating the analyst consensus of $1.65 billion.
Comparable system-wide RevPAR increased 15% Y/Y. Net Rooms Growth was 6.9%.
Comparable owned and leased hotels RevPAR increased 10.1% versus last year.
Adjusted EBITDA rose to $273 million versus $255 million last year.
Adjusted EPS of $0.82 missed the analyst consensus of $0.83.
Hyatt repurchased 969,000 shares for $108 million in Q2.
At the end of Q2, the company had a consolidated debt of $3.1 billion.
Outlook: Hyatt expects FY23 net income of $215 million, Adjusted EBITDA of $1.02 billion – $1.07 billion, and capital expenditure to be $200 million.
The company currently expects to grow net rooms by approximately 6%.
It now expects system-wide constant dollar RevPAR to grow 14% – 16% from 2022.
Price Action: H shares are trading lower by 8.4% at $112.02 on the last check Thursday.
