Hyatt Hotels Corporation reported second-quarter 2026 adjusted earnings of $1.12 per share, surpassing Zacks Consensus Estimate by 24%, and a 64.7% increase from the prior-year quarter’s 68 cents, according to TradingView. Revenue totaled $1.829 billion, 1.2% higher year over year and above the $1.815 billion consensus. Gross fees rose 7.8% to $324 million, with base management fees up 10.2% to $124 million, supported by RevPAR growth and the Playa Hotels acquisition. Incentive management fees increased 2.6% to $64 million but were constrained by lower fees in the Middle East, Mexico, and Jamaica. Franchise and other fees climbed 8.1% to $136
million, helping net fees reach $307 million, up from $286 million a year earlier. Management and franchising adjusted EBITDA improved to $266 million from $238 million.
Comparable system-wide hotel revenue per available room (RevPAR) rose 5.9% year over year, driven by a 5% increase in average daily rate to $216.81 and a 0.6 percentage point rise in occupancy to 73.2%. Luxury and upper-upscale hotels led RevPAR gains, with strong growth in leisure transient and group segments, while business transient RevPAR expanded in the low single digits. U.S. RevPAR advanced 6.7%, Asia Pacific excluding Greater China climbed 10.3%, and Americas outside
the U.S. grew 9.5%. Greater China increased 7.2%, whereas Middle East and Africa declined 28.3%, with the Middle East conflict reducing RevPAR growth by about 110 basis points. In contrast, comparable system-wide all-inclusive resort Net Package RevPAR decreased 1.2%, with occupancy down 2.1 percentage points to 72.8% and Net Package average daily rate rising 1.7% to $271.25, impacted partly by security concerns in Mexico and reduced airlift into some destinations. Distribution adjusted EBITDA fell to $27 million from $43 million, affected by temporary hotel closures in Jamaica due to Hurricane Melissa and weaker demand in Mexico.
Hyatt opened 3,585 rooms
during Q2 2026, including Miraval The Red Sea, its first Miraval property outside the United States, and The Barai Hua Hin, introducing The Unbound Collection by Hyatt brand to Thailand. The company’s pipeline of signed management or franchise contracts expanded 10% year over year to approximately 154,000 rooms. Trailing 12-month net rooms growth was 3.9%, or 4.4% excluding Playa Hotels acquisition rooms removed in the second half of 2025. Hyatt also entered a master franchise agreement with the Dossen Group to develop and operate Hyatt Select hotels in the Chinese Mainland. World of Hyatt membership reached roughly 69 million members,
a 17% increase year over year.
For fiscal year 2026, Hyatt projects comparable system-wide hotel RevPAR growth between 3.5% and 4.5%, net room growth around 6%, and gross fees between $1.305 billion and $1.335 billion, reflecting 9-11% growth. Adjusted EBITDA is forecasted at $1.155 billion to $1.205 billion, a 13-18% increase over the 2025 adjusted baseline, with adjusted free cash flow expected between $580 million and $630 million. As of June 30, 2026, Hyatt reported $4.3 billion in total debt and $2.1 billion in total liquidity. The company returned $175 million to shareholders through dividends and share repurchases during the
first half of 2026, targeting $325-$375 million in capital returns for the full year.
Hyatt CEO Mark Hoplamazian said, “We’re taking a measured view on the timing of openings later this year,” signaling delays in some hotel openings, with some expected to push from the fourth quarter of 2026 into 2027. Hyatt is accelerating mid-tier hotel development, including the Hyatt Studios brand backed by a new $500 million credit facility, aiming to fill gaps in smaller destinations unable to support full-service properties. Despite growth in fees driven by luxury and lifestyle brands, pressures in the Middle East and Mexico markets
and hotel opening delays contributed to mixed earnings results, leading to a more than 5% decline in Hyatt’s stock following the earnings release.
