CHICAGO (AP) _ Hyatt Hotels Corp. (H) on Wednesday reported a first-quarter loss of $103 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Chicago-based company said it had a loss of $1.02. Losses, adjusted for non-recurring costs, came to 35 cents per share.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 35 cents per share.
The hotel operator posted revenue of $993 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $942.3 million.
Hyatt Hotels shares have decreased 44% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $50.20, a decline of 35% in the last 12 months.