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Here’s Why Hyatt Hotels Corporation (H) Benefitted in Q1

Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” first-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund delivered 4.24% in the first quarter compared to a 2.74% return for the Russell 2000 Index and -0.66% for the Russell 2000 Value Index. The two dominant market factors, banking collapse and rebound in tech/growth businesses, in the quarter had not directly impacted the portfolio as the return drivers varied meaningfully from the Index.  In addition, please check the fund’s top five holdings to know its best picks in 2023.

Longleaf Partners Small-Cap Fund highlighted stocks like Hyatt Hotels Corporation (NYSE:H) in the first quarter 2023 investor letter. Headquartered in Chicago, Illinois, Hyatt Hotels Corporation (NYSE:H) is a hospitality company. On May 3, 2023, Hyatt Hotels Corporation (NYSE:H) stock closed at $118.20 per share. One-month return of Hyatt Hotels Corporation (NYSE:H) was 9.81%, and its shares gained 31.01% of their value over the last 52 weeks. Hyatt Hotels Corporation (NYSE:H) has a market capitalization of $12.662 billion.

Longleaf Partners Small-Cap Fund made the following comment about Hyatt Hotels Corporation (NYSE:H) in its Q1 2023 investor letter:

"Hyatt Hotels Corporation (NYSE:H) – Global hotel franchisor and owner Hyatt was also a top performer in the quarter, continuing its positive performance from 2022. While we are likely in the later stages of the hotel cycle that may be facing more economic worries from here, Hyatt uniquely skews towards group properties that still have room to rebound further post-COVID. It is also much less skewed to more volatile owned property cash flow than its previous years as a public company. Hyatt benefited in the quarter from leaked news that the company is likely to sell more assets and to use proceeds to buy back shares and build balance sheet strength."

Hotel, Hospitality, Building
Hotel, Hospitality, Building

Photo by Upal Patel on Unsplash

Hyatt Hotels Corporation (NYSE:H) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Hyatt Hotels Corporation (NYSE:H) at the end of the fourth quarter which was 30 in the previous quarter.

We discussed Hyatt Hotels Corporation (NYSE:H) in another article and shared Baron Focused Growth Fund's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.