Hyatt Hotels Corporation
- Open
- 198.42
- Day high
- 199.92
- Day low
- 195.69
- Prev close
- 197.68
- Volume
- 265K
- Mkt cap
- $18.3B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 5.7
- P/S
- 2.9
- Yield
- 0.31%
- Per share
- $0.60
- ▼Insiders net selling -$79.1M over the last 3 months (0 open-market buys, 46 sales)
- 🏛Institutions mixed (13F)
Hyatt Hotels Corporation (H) is a Consumer Cyclical company listed on NYSE. The stock is up 41% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 46 sales (SEC Form 4).
Hyatt Hotels Corporation (H) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
H earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 13, 2026 | $0.57 | $0.63 | +10.5% | $1.7B | +0.7% |
| Feb 12, 2026 | $0.29 | $1.33 | +358.6% | $1.8B | +1.2% |
| Nov 6, 2025 | $0.46 | $-0.30 | -165.6% | $883M | -51.2% |
| Aug 7, 2025 | $0.62 | $1.53 | +146.8% | $1.8B | +5.8% |
| May 1, 2025 | $0.30 | $0.46 | +53.3% | $1.7B | -0.9% |
| Feb 13, 2025 | $0.68 | $0.42 | -38.2% | $1.6B | -8.4% |
| Oct 31, 2024 | $0.96 | $0.94 | -2.6% | $1.6B | +2.1% |
| May 9, 2024 | $0.76 | $0.71 | -6.2% | $1.7B | +1.8% |
| Feb 23, 2024 | $0.38 | $0.64 | +68.4% | $1.7B | +5.2% |
| Nov 2, 2023 | $0.60 | $0.70 | +16.7% | $1.6B | -1.0% |
| Aug 3, 2023 | $0.87 | $0.82 | -5.7% | $1.7B | +1.3% |
| May 4, 2023 | $0.48 | $0.41 | -14.6% | $1.7B | +6.0% |
H insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 23, 2026 | HOPLAMAZIAN MARK SAMUELdirector, officer: See Remarks | Sell | 11,801 | $204.50 |
| Jun 23, 2026 | HOPLAMAZIAN MARK SAMUELdirector, officer: See Remarks | Sell | 18,241 | $202.45 |
| Jun 23, 2026 | HOPLAMAZIAN MARK SAMUELdirector, officer: See Remarks | Sell | 4,759 | $203.31 |
| Jun 23, 2026 | HOPLAMAZIAN MARK SAMUELdirector, officer: See Remarks | Sell | 33,352 | $197.82 |
| Jun 23, 2026 | HOPLAMAZIAN MARK SAMUELdirector, officer: See Remarks | Sell | 4,110 | $198.65 |
| Jun 23, 2026 | HOPLAMAZIAN MARK SAMUELdirector, officer: See Remarks | Sell | 408 | $205.23 |
| Jun 23, 2026 | HOPLAMAZIAN MARK SAMUELdirector, officer: See Remarks | Sell | 30,479 | $196.80 |
| Jun 23, 2026 | HOPLAMAZIAN MARK SAMUELdirector, officer: See Remarks | Sell | 16,850 | $195.96 |
| Jun 16, 2026 | Pritzker Jasondirector, 10 percent owner: | Grant | 125 | — |
| Jun 16, 2026 | O'NEILL HEIDIdirector | Grant | 125 | — |
| Jun 16, 2026 | Travis Tracey Thomasdirector | Grant | 125 | — |
| Jun 3, 2026 | TSPV P.G. Trustother: See Remarks | Sell | 214 | — |
| Jun 3, 2026 | TSPV P.G. Trustother: See Remarks | Sell | 31,786 | — |
| Jun 3, 2026 | ACPS P.G. Trustother: See Remarks | Sell | 26,821 | — |
| Jun 3, 2026 | JSPV P.G. Trustother: See Remarks | Sell | 122 | — |
Source: H SEC Form 4 filings, latest Jun 23, 2026. For informational purposes only — not investment advice.
See the full H insider & 13F page →Hyatt Hotels Corporation company profile
Overview
Hyatt Hotels Corporation (NYSE:H) is a global hospitality company founded in 1957 and headquartered in Chicago, Illinois. The company went public in November 2009 and has since transformed from a traditional hotel owner-operator into an increasingly asset-light hospitality platform. Over the past decade, Hyatt has undergone significant strategic transformation, selling billions in real estate assets while expanding its brand portfolio through strategic acquisitions and building one of the industry's leading loyalty programs with over 54 million World of Hyatt members.
Business
Hyatt operates in the global hospitality industry, managing, franchising, licensing, owning, and leasing a diverse portfolio of hotels, resorts, and vacation properties. The hospitality industry serves travelers ranging from business executives and corporate groups to leisure vacationers and luxury travelers, providing accommodation, dining, meeting spaces, and experiential services. The company operates through five main business segments that generate different revenue streams and serve distinct market needs: 1. **Owned and Leased Hotels segment** - This traditional segment involves properties that Hyatt directly owns or leases and operates. These properties generate revenue through room bookings, food and beverage sales, and ancillary services. While this segment provides higher absolute revenue per property, it also carries higher capital requirements and operational risks. 2. **Americas Management and Franchising segment** - This asset-light model involves managing hotels owned by third parties or franchising the Hyatt brand to independent operators across North and South America. Revenue comes from management fees (typically 2-4% of gross revenue), franchise fees, and incentive fees based on property performance. 3. **ASPAC (Asia-Pacific) Management and Franchising segment** - Similar to the Americas segment but focused on the Asia-Pacific region, including key markets like China, Japan, Australia, and Southeast Asia. This segment has shown strong growth, particularly in markets outside Greater China. 4. **EAME/SW Asia Management and Franchising segment** - Covers Europe, Africa, Middle East, and Southwest Asia markets through management and franchise agreements. 5. **Apple Leisure Group (ALG) segment** - Acquired in 2021, this segment specializes in all-inclusive resort operations and vacation packages, primarily serving leisure travelers seeking comprehensive resort experiences. ALG operates brands like Secrets, Dreams, Breathless, and Zoetry resorts. Hyatt's brand portfolio spans multiple market segments from luxury (Park Hyatt, Grand Hyatt) to lifestyle (Andaz, Thompson Hotels) to select-service (Hyatt Place, Hyatt House) to all-inclusive resorts. The company operates approximately 540 hotels comprising 113,000 rooms worldwide under more than 20 distinct brands, each targeting specific customer segments and price points.
Revenue model
Hyatt generates revenue through multiple business models that have evolved significantly toward an asset-light approach. The company's revenue streams include: **Management and Franchise Fees** - The primary growth engine, representing approximately 80% of earnings. Base management fees typically range from 2-4% of gross hotel revenue, while franchise fees are collected from independent operators using Hyatt brands. Incentive management fees provide additional upside when properties exceed performance thresholds. These fees are attractive because they require minimal capital investment while providing steady, recurring income streams. **Owned and Leased Property Operations** - Traditional hotel operations generating revenue from room bookings, food and beverage sales, meeting and event services, and ancillary offerings like spa services and retail. While this provides higher absolute revenue per property, it requires significant capital investment and exposes the company to operational risks and market cyclicality. **All-Inclusive Resort Operations** - Through the Apple Leisure Group, Hyatt operates all-inclusive resorts where customers pay upfront for accommodation, meals, beverages, and activities. This model provides predictable revenue and higher customer spending per stay. **Loyalty Program and Co-branded Credit Cards** - The World of Hyatt program generates revenue through partnerships with credit card companies and merchant partners, while driving direct bookings and customer retention. The company's paying customers include individual leisure travelers, business travelers, corporate clients booking group events, associations organizing conferences, and vacation package buyers. Corporate and group customers typically provide higher-margin business with advance booking visibility. Several factors influence Hyatt's profitability margins. **Positive margin drivers** include growing management and franchise fee income (which carries 80%+ margins), expanding loyalty program membership driving direct bookings, increasing penetration in high-growth international markets, and operational efficiency improvements. **Negative margin pressures** come from labor cost inflation in owned properties, increased competition from alternative accommodations like Airbnb, economic downturns reducing business and leisure travel demand, and the capital-intensive nature of owned real estate requiring ongoing maintenance and renovation investments. The company's strategic shift toward asset-light operations aims to reach 90% fee-based earnings by 2027, which would significantly improve margin stability and reduce capital requirements while maintaining revenue growth through brand expansion and market penetration.
Competitive moat
Hyatt's competitive moat is moderate and primarily built around brand recognition, loyalty program network effects, and operational expertise, though it faces significant competitive pressures in the fragmented hospitality industry. The company's **strongest moat element** is the World of Hyatt loyalty program, which has grown to over 54 million members and creates switching costs for frequent travelers. The program generates network effects as more properties increase its value to members, while member data provides insights for targeted marketing and revenue optimization. The co-branded credit card partnerships create additional customer stickiness and recurring revenue streams. **Brand portfolio strength** provides another defensive element, with Hyatt operating recognized luxury and lifestyle brands like Park Hyatt, Grand Hyatt, and Andaz that command premium pricing. The company's reputation for service quality and its relationships with corporate travel managers create some customer loyalty, particularly in the business travel segment. **Operational expertise** in hotel management, revenue optimization, and market development provides advantages in securing management contracts and franchise agreements. Hyatt's global platform offers economies of scale in marketing, technology systems, and procurement that smaller operators cannot match. However, Hyatt's moat faces several **significant challenges**. The hospitality industry remains highly fragmented with numerous competitors including Marriott, Hilton, IHG, and Accor, all offering similar services and competing aggressively for market share. **Alternative accommodation platforms** like Airbnb and VRBO have disrupted traditional hotel demand, particularly for leisure travelers seeking unique experiences or longer stays. The **asset-light model**, while improving capital efficiency, also reduces barriers to entry as management contracts can be terminated and franchise agreements may not renew. **Economic sensitivity** makes the business vulnerable to recession, travel restrictions, and changing corporate travel policies, as demonstrated during the COVID-19 pandemic. **Technology disruption** poses ongoing threats as online travel agencies control distribution channels and new platforms could potentially disintermediate traditional hotel brands. The company's international expansion, while offering growth opportunities, also exposes it to geopolitical risks and regulatory changes in foreign markets. Overall, Hyatt possesses a moderate moat that provides some competitive advantages but requires continuous investment in brand building, technology, and customer experience to maintain its position in an intensely competitive and cyclical industry.
Risks & safety
Hyatt presents a moderate margin of safety with manageable debt levels but faces cyclical earnings volatility and current valuation concerns. **Liquidity and Solvency:** - Strong cash position of $1.7 billion as of Q1 2025 - Current ratio of 0.98 indicates tight but adequate short-term liquidity - Debt-to-equity ratio of 1.33 is elevated but manageable for hospitality industry - Positive free cash flow of $123 million in Q1 2025, though variable quarterly - No immediate solvency concerns given asset base and cash generation **Valuation Metrics:** - EV/EBITDA of 17.8x appears expensive relative to historical hospitality multiples - Price-to-book ratio of 3.4x reflects premium to tangible assets - Graham number of $13 suggests significant overvaluation at current $118 price - Earnings volatility makes traditional P/E ratios less meaningful **Other Considerations:** - Asset-light transformation reduces capital intensity but increases earnings variability - Strong brand portfolio and loyalty program provide some defensive characteristics - Cyclical industry exposure creates earnings unpredictability during economic downturns - International exposure adds currency and geopolitical risks
Recent development
Over the past few years, Hyatt has executed a comprehensive strategic transformation focused on becoming an asset-light hospitality platform while expanding its brand portfolio and global footprint. **Asset-Light Transformation:** The company has systematically sold owned real estate assets, completing $3.8 billion in asset sales through 2022 and committing to an additional $2 billion program. This strategy aims to reach 90% fee-based earnings by 2027, reducing capital intensity while maintaining revenue growth through management and franchise agreements. The sale of properties like Hyatt Regency Orlando for $1.07 billion in 2024 exemplifies this approach. **Strategic Acquisitions and Brand Expansion:** Hyatt has significantly expanded its brand portfolio through targeted acquisitions including Apple Leisure Group (all-inclusive resorts), Standard International (lifestyle hotels), Dream Hotel Group, and most recently the me and all hotels brand from Lindner Hotels Group. These acquisitions have added specialized expertise in high-growth segments like all-inclusive resorts and lifestyle hospitality while expanding geographic presence. **Loyalty Program Growth:** The World of Hyatt program has experienced explosive growth from 10 million members in 2019 to over 54 million currently, representing a 22% annual growth rate. The program has become a key competitive differentiator and revenue driver, with loyalty member penetration increasing 170 basis points in recent quarters. **Brand Portfolio Reorganization:** In 2024, Hyatt reorganized its brands into five distinct groups - Luxury, Lifestyle, Inclusive, Classics, and Essentials - to better serve different customer segments and streamline operations. The company also introduced new brands like Hyatt Select for the upper midscale segment and Hyatt Studios for extended-stay markets. **Global Expansion:** The company has maintained aggressive international expansion with a pipeline of approximately 138,000 rooms (7% increase), focusing particularly on high-growth markets in Asia-Pacific and continuing development in Europe and Latin America. Net rooms growth has consistently exceeded 6% annually. **Technology and Platform Development:** Recent initiatives include launching the Homes & Hideaways residential vacation platform, expanding partnerships with curated hotel platforms like Mr. & Mrs. Smith, and enhancing digital capabilities to compete with online travel agencies and alternative accommodation providers.
H company profile · for informational purposes only — not investment advice.
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