Hyatt reports Q4 and full-year 2025 results

Hyatt reports fourth quarter and full-year 2025 financial results

Hyatt Hotels Corporation has reported its financial and operating results for the fourth quarter and full year ended 2025, outlining steady performance across its portfolio alongside continued expansion of its hotel network.

During the fourth quarter of 2025, comparable system-wide hotels recorded RevPAR growth of 4.0%, while full-year RevPAR increased 2.9% compared with 2024. Comparable system-wide all-inclusive resorts saw Net Package RevPAR growth of 8.3% in the fourth quarter and 8.6% for the full year. Net rooms growth reached 7.3% for the year, or 6.7% excluding acquisitions. Hyatt’s development pipeline stood at approximately 148,000 rooms, reflecting a 7% increase year-on-year.

Net income attributable to Hyatt Hotels Corporation was a loss of $20 million in the fourth quarter and $52 million for the full year. Adjusted Net Income totalled $126 million for the quarter and $209 million for the year. Diluted EPS was a loss of $0.21 in the fourth quarter and $0.55 for the full year, while Adjusted Diluted EPS reached $1.33 and $2.19, respectively.

Gross fees rose to $307 million in the fourth quarter, up 4.5% year-on-year, and reached $1.2 billion for the full year, representing 9.0% growth. Adjusted EBITDA totalled $292 million in the fourth quarter and $1.16 billion for the full year. During the first quarter of 2026, Hyatt updated its definition of Adjusted EBITDA to exclude its pro rata share of unconsolidated owned and leased hospitality ventures.

Commenting on the results, Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said the company closed 2025 with continued progress on its strategic priorities, including brand focus, portfolio expansion, and operational execution. He added that Hyatt’s forward strategy centres on further developing its brands, investing in talent, and advancing technology to support long-term performance.

Operational performance

During the fourth quarter, RevPAR growth was strongest within the luxury and upper-upscale segments. Leisure transient demand remained the largest contributor, while group demand also performed well. All-inclusive resorts continued to benefit from demand in luxury leisure travel.

Gross fee growth was supported by newly opened hotels and international managed properties, while franchise and other fees declined due to changes related to the Playa Hotels acquisition and softer demand at select-service hotels in the United States. Adjusted EBITDA in the owned and leased segment declined slightly, reflecting renovation activity and portfolio changes.

Openings and development

Hyatt opened 8,253 rooms during the fourth quarter, including Park Hyatt Cabo del Sol in Mexico, Andaz One Bangkok, and Hyatt Studios Huntsville in the United States. For the full year, the company reported pipeline growth of 7%, with U.S. signings up approximately 30% year over year. Growth in Asia Pacific was supported by new agreements in Greater China and India.

Transactions, balance sheet and outlook

During the quarter, Hyatt completed several asset sales, including the Alua portfolio in Spain and the Playa real estate transaction, and used the proceeds to repay acquisition-related debt. As of 31 December 2025, total debt stood at $4.3 billion, with liquidity of $2.3 billion. The company also repurchased $293 million in shares in 2025 and declared a $0.15 per-share quarterly dividend for the first quarter of 2026.

In 2026, Hyatt expects system-wide RevPAR growth of 1.0% to 3.0% and net rooms growth of 6.0% to 7.0%. The company projects gross fees of $1.3 billion to $1.34 billion, adjusted EBITDA of $1.16 billion to $1.21 billion, and adjusted free cash flow of $580 million to $630 million, subject to market conditions and operating assumptions.