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Hyatt Hotels Corporation Message Board

  • bluecheese4u bluecheese4u May 3, 2012 9:24 AM Flag

    Hyatt Reports First Quarter 2012 Results

    Hyatt Reports First Quarter 2012 Results

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    CHICAGO--(BUSINESS WIRE)--May. 3, 2012-- Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported financial results as follows:
    • Adjusted EBITDA was $125 million in the first quarter of 2012 compared to $109 million in the first quarter of 2011, an increase of 14.7%.
    • Net income attributable to Hyatt was $10 million, or $0.06 per share, during the first quarter of 2012 compared to net income attributable to Hyatt of $10 million, or $0.06 per share, in the first quarter of 2011. Adjusted for special items, net income attributable to Hyatt was $5 million, or $0.03 per share, during the first quarter of 2012 compared to net income attributable to Hyatt of $11 million, or $0.07 per share, during the first quarter of 2011. See the table on page 3 of the accompanying schedules for a summary of special items.
    • Comparable owned and leased hotel RevPAR increased 8.3% (8.7% excluding the effect of currency) in the first quarter of 2012 compared to the first quarter of 2011.
    • Owned and leased hotel operating margins increased 220 basis points in the first quarter of 2012 compared to the first quarter of 2011. Comparable owned and leased hotel operating margins increased 120 basis points in the first quarter of 2012 compared to the same period in 2011. See the table on page 8 of the accompanying schedules for a reconciliation of comparable owned and leased hotel operating margin to owned and leased hotel operating margin.
    • Comparable North American full service hotel RevPAR increased 8.1% in the first quarter of 2012 compared to the first quarter of 2011. Comparable North American select service hotel RevPAR increased 7.2% in the first quarter of 2012 compared to the first quarter of 2011.
    • Comparable international hotel RevPAR increased 5.7% (6.5% excluding the effect of currency) in the first quarter of 2012 compared to the first quarter of 2011.
    • The Company added six properties during the first quarter of 2012.

    Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “During the first quarter of 2012, we continued to deliver on our mission of providing authentic hospitality by making a difference in the lives of people that we touch every day, evidenced by improvements in market share as well as guest and meeting planner satisfaction. Our Adjusted EBITDA increased almost 15% as recently added and renovated hotels contributed to stronger results.

    “We continue to expand in key markets that are significant to our future success. During the quarter, we opened six hotels, including Park HyattHyderabad in India. We also converted two existing North American properties to our Andaz brand and, following an extensive renovation, re-opened the world-renowned Park Hyatt Sydney.

    “Over the last year, we increased both development resources and financial capital dedicated to expanding our presence. Results of these investments are becoming more visible, as our base of executed agreements for future hotels has increased by 15% during that time period. Over the last few months, we announced management agreements for hotels in Cambodia, Switzerland, India, Russia, South Korea, Thailand, Saudi Arabia, and Puerto Rico. These expected future additions represent both conversions and to-be-built hotels across many of our brands, and demonstrate an executed contract base that is oriented toward high-value international full service hotels.

    “We recently announced the

    http://investors.hyatt.com/phoenix.zhtml?c=228969&p=irol-newsArticle&ID=1690997&highlight=

 
H
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