A Business at a Glance
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Hyatt Hotels Corp
H
$17.7B
Mkt Cap
$187.13
+1.91%
Hyatt Hotels Corp (H) has a 5-year average return on invested capital (ROIC) of 8.8%. This is below average and may indicate limited pricing power.
Hyatt Hotels Corp (H) has a market capitalization of $18.1B. It is classified as a large-cap stock.
Yes, Hyatt Hotels Corp (H) pays a dividend with a trailing twelve-month yield of 0.31%. The company also returns capital through share buybacks, with a buyback yield of 1.54%.
Hyatt Hotels Corp (H) operates in the Hotels & Motels industry, within the Consumer Cyclical sector.
Hyatt Hotels Corp (H) reported annual revenue of $7.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Hyatt Hotels Corp (H) has a net profit margin of -0.7%. The company is currently unprofitable.
Hyatt Hotels Corp (H) generated $159 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Hyatt Hotels Corporation is a global hospitality company operating a portfolio of 1,528 hotels and all-inclusive resorts across five brand portfolios: Luxury (Park Hyatt, Alila, Miraval, Impression by Secrets, The Unbound Collection by Hyatt), Lifestyle (Andaz, Thompson Hotels, The Standard, Dream Hotels, JdV by Hyatt, and others), Inclusive Collection (Zoëtry, Hyatt Ziva, Hyatt Zilara, Secrets, Dreams, and others), Classics (Grand Hyatt, Hyatt Regency, Hyatt Centric, Hyatt Vacation Club), and Essentials (Caption by Hyatt, Unscripted by Hyatt, Hyatt Place, Hyatt House, Hyatt Studios, Hyatt Select, UrCove). The company has evolved into an asset-light business model, primarily deriving revenues from management fees, franchise fees, licensing of brands, and provision of distribution and destination management services through ALG Vacations and Mr & Mrs Smith, with owned and leased hotel operations representing a declining portion of earnings. Hyatt's competitive moat is built on its portfolio of widely recognized, industry-leading brands developed over nearly 70 years, strong loyalty engagement through World of Hyatt, and a global network of properties that attracts owners and developers across diverse geographies and chain scales. The company serves high-end leisure and business travelers, group customers, and corporate clients, with particular strength in luxury and select-service segments, and operates properties across the United States, international markets including Greater China, Asia-Pacific, Europe, and the Caribbean. Unit economics are characterized by recurring, high-margin fee-based revenue streams with minimal capital requirements, supported by a conversion of adjusted EBITDA to adjusted free cash flow of at least 50%.
【Strong fee-based growth trajectory】 Management expects continued momentum in the core fee business driven by net rooms growth of 6%-7% for full-year 2026, with accelerating openings from the development pipeline and conversion opportunities, particularly in new brands such as Unscripted by Hyatt. RevPAR growth is anticipated to be positive globally, with the United States expected to grow 2%-3% and international markets showing moderately higher growth, though tempered by Middle East headwinds; management remains increasingly positive about U.S. forward-booking trends, particularly for group business in the mid-single digits. The company expects adjusted EBITDA to grow 13%-18% in 2026, reflecting strong fee growth and benefits from the extended co-branded credit card agreement, while maintaining disciplined capital allocation with plans to return $325-375 million to shareholders through repurchases and dividends. Management is confident in the asset-light business model, targeting 90% asset-light earnings in 2026, and expects to continue selling properties to improve leverage and fund shareholder returns while preserving an investment-grade profile.
| Metric | Target | Period |
|---|---|---|
| System-wide RevPAR growth | 2%-4% | Full year 2026 |
| U.S. RevPAR growth | 2%-3% | Full year 2026 |
| Net rooms growth | 6%-7% | Full year 2026 |
| Gross fees | $1.305 billion-$1.335 billion | Full year 2026 |
| Adjusted EBITDA | $1.155 billion-$1.205 billion | Full year 2026 |
| Adjusted free cash flow | $580 million-$630 million | Full year 2026 |
| Capital returns to shareholders | $325 million-$375 million | Full year 2026 |
System-wide RevPAR growth (Full year 2026): “We believe the improved performance in the United States supports increasing our full-year system-wide RevPAR growth outlook to between 2%-4%.”
U.S. RevPAR growth (Full year 2026): “RevPAR in the United States could grow between 2% and 3% for the full year, reflecting the improved trends I just reviewed.”
Net rooms growth (Full year 2026): “We expect net rooms growth of 6%-7% for the full year, with continued momentum behind our new brands, driving another year of strong organic growth.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 7.1B | 7.1B | 6.6B | 6.7B | 5.9B | 3.0B |
| Net Income | -34M | -52M | 1.3B | 220M | 455M | -222M |
| EPS | $-0.36 | $-0.55 | $12.65 | $2.05 | $4.09 | $-2.13 |
| Free Cash Flow | 113M | 159M | 463M | 602M | 473M | 204M |
| ROIC | 0.0% | 3.6% | 24.2% | 5.5% | 8.3% | 2.2% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 1.33 | 1.37 | 1.14 | 0.95 | 0.93 | 1.22 |
| Dividends/Share | $0.59 | $0.60 | $0.59 | $0.44 | $0.00 | $0.00 |
| Operating Income | 0 | 395M | 1.7B | 455M | 513M | 207M |
| Operating Margin | 0.0% | 5.6% | 26.2% | 6.8% | 8.7% | 6.8% |
| ROE | -1.1% | -1.5% | 36.5% | 6.1% | 12.5% | -6.6% |
| Shares Outstanding | 97M | 95M | 102M | 107M | 111M | 104M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 4.4B | 4.3B | 4.4B | 4.7B | 4.5B | 5.0B | 2.1B | 3.0B | 5.9B | 6.7B | 6.6B | 7.1B | 7.1B |
| Gross Margin | 7.5% | 7.2% | 9.0% | 6.2% | 4.1% | 3.6% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 349M | 308M | 315M | 377M | 320M | 417M | 321M | 366M | 464M | 615M | 548M | 555M | 559M |
| EBIT | N/A | 262M | 358M | N/A | N/A | N/A | -832M | 207M | 513M | 455M | 1.7B | 395M | 0 |
| Op. Margin | N/A | 6.1% | 8.1% | N/A | N/A | N/A | -40.3% | 6.8% | 8.7% | 6.8% | 26.2% | 5.6% | 0.0% |
| Net Income | 344M | 124M | 206M | 389M | 769M | 766M | -703M | -222M | 455M | 220M | 1.3B | -52M | -34M |
| Net Margin | 7.8% | 2.9% | 4.7% | 8.3% | 17.3% | 15.3% | -34.0% | -7.3% | 7.7% | 3.3% | 19.5% | -0.7% | -0.5% |
| Non-Recurring | 2.0M | 0 | 0 | 0 | 25M | 38M | 111M | 3.0M | 46M | 34M | 168M | 97M | 60M |
| Returns on Capital | |||||||||||||
| ROIC | N/A | 3.3% | 5.3% | N/A | N/A | N/A | -11.9% | 2.2% | 8.3% | 5.5% | 24.2% | 3.6% | 0.0% |
| ROE | 7.3% | 2.9% | 5.2% | 10.1% | 20.5% | 20.1% | -19.6% | -6.6% | 12.5% | 6.1% | 36.5% | -1.5% | -1.1% |
| ROA | 4.2% | 1.6% | 2.7% | 5.1% | 10.1% | 9.5% | -8.0% | -2.0% | 3.7% | 1.7% | 9.9% | -0.4% | -0.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 473M | 538M | 462M | 587M | 341M | 396M | -611M | 315M | 674M | 800M | 633M | 379M | 326M |
| Free Cash Flow | 220M | 269M | 251M | 289M | 44M | 27M | -733M | 204M | 473M | 602M | 463M | 159M | 113M |
| Owner Earnings | 67M | 192M | 110M | 207M | -14M | 32M | -949M | -54M | 187M | 328M | 236M | -20M | -66M |
| CapEx | 253M | 269M | 211M | 298M | 297M | 369M | 122M | 111M | 201M | 198M | 170M | 220M | 213M |
| Maint. CapEx | 354M | 320M | 326M | 348M | 327M | 329M | 310M | 310M | 426M | 397M | 333M | 325M | 321M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 40M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 354M | 320M | 326M | 348M | 327M | 329M | 310M | 310M | 426M | 397M | 333M | 325M | 321M |
| CapEx/OCF | 53.5% | 50.0% | 43.1% | 50.8% | 87.1% | 93.2% | N/A | 35.2% | 29.8% | 24.8% | 26.9% | 58.0% | 65.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 68M | 80M | 20M | 0 | 0 | 47M | 60M | 57M | 57M |
| Dividend Yield | N/A | N/A | N/A | N/A | 0.8% | 1.0% | 0.3% | N/A | N/A | 0.4% | 0.4% | 0.4% | 0.3% |
| Share Buybacks | 443M | 715M | 272M | 743M | 946M | 421M | 69M | 0 | 369M | 453M | 1.2B | 293M | 279M |
| Buyback Yield | 4.9% | 10.6% | 3.7% | 8.2% | 12.5% | 4.4% | 0.9% | N/A | 3.8% | 3.3% | 7.4% | 1.9% | 1.5% |
| Stock-Based Comp | 52M | 26M | 26M | 32M | 28M | 35M | 28M | 59M | 61M | 75M | 64M | 74M | 71M |
| Debt Repayment | 208M | 5.0M | 438M | 0 | 4.0M | 0 | 15M | 11M | 0 | 4.0M | 14M | 19M | 19M |
| Balance Sheet | |||||||||||||
| Net Debt | 632M | 792M | 1.1B | 899M | 948M | 1.1B | 1.8B | 3.2B | 2.3B | 2.5B | 2.7B | 3.7B | 3.6B |
| Cash & Equiv. | 685M | 457M | 482M | 503M | 570M | 893M | 1.2B | 960M | 991M | 881M | 1.0B | 787M | 671M |
| Long-Term Debt | 1.4B | 1.0B | 1.4B | 1.4B | 1.6B | 1.6B | 3.0B | 4.0B | 2.5B | 2.3B | 3.3B | 4.3B | 3.7B |
| Debt/Equity | 0.30 | 0.34 | 0.43 | 0.38 | 0.45 | 0.52 | 1.14 | 1.22 | 0.93 | 0.95 | 1.14 | 1.37 | 1.33 |
| Interest Coverage | N/A | 3.9 | 4.7 | N/A | N/A | N/A | -6.5 | 1.3 | 3.4 | 3.1 | 9.7 | 1.2 | 1.2 |
| Equity | 4.6B | 4.0B | 3.9B | 3.8B | 3.7B | 4.0B | 3.2B | 3.6B | 3.7B | 3.6B | 3.5B | 3.3B | 3.2B |
| Total Assets | 8.1B | 7.6B | 7.7B | 7.6B | 7.6B | 8.4B | 9.1B | 12.6B | 12.3B | 12.8B | 13.3B | 14.0B | 13.9B |
| Total Liabilities | 3.5B | 3.6B | 3.8B | 3.7B | 4.0B | 4.5B | 5.9B | 9.0B | 8.6B | 9.3B | 9.5B | 10.4B | 10.4B |
| Intangibles | 552M | 547M | 599M | 305M | 628M | 437M | 385M | 2.0B | 1.7B | 1.7B | 2.2B | 2.2B | 2.2B |
| Retained Earnings | 2.2B | 2.3B | 2.5B | 3.1B | 3.8B | 4.2B | 3.4B | 3.2B | 3.6B | 3.7B | 3.8B | 3.5B | 3.4B |
| Working Capital | 979M | 17M | 215M | 335M | 284M | 620M | 1.6B | -170M | -1.0B | -1.4B | -541M | -717M | -1.4B |
| Current Assets | 1.7B | 1.1B | 1.1B | 1.3B | 1.3B | 1.7B | 2.6B | 2.1B | 2.3B | 2.1B | 2.7B | 2.2B | 2.1B |
| Current Liabilities | 730M | 1.1B | 924M | 992M | 1.1B | 1.1B | 984M | 2.2B | 3.3B | 3.6B | 3.3B | 2.9B | 3.4B |
| Per Share Data | |||||||||||||
| EPS | 2.23 | 0.86 | 1.53 | 3.08 | 6.68 | 7.21 | -6.93 | -2.13 | 4.09 | 2.05 | 12.65 | -0.55 | -0.36 |
| Owner EPS | 0.43 | 1.33 | 0.82 | 1.64 | -0.12 | 0.30 | -9.36 | -0.52 | 1.68 | 3.06 | 2.30 | -0.21 | -0.68 |
| Book Value | 29.99 | 27.68 | 28.99 | 30.38 | 31.88 | 37.29 | 31.65 | 34.19 | 33.25 | 33.21 | 34.62 | 35.26 | 33.32 |
| Cash Flow/Share | 3.07 | 3.73 | 3.43 | 4.65 | 2.96 | 3.73 | -6.02 | 3.02 | 6.06 | 7.45 | 6.18 | 4.01 | 2.96 |
| Dividends/Share | N/A | N/A | 0.00 | 0.00 | 0.59 | 0.75 | 0.20 | 0.00 | 0.00 | 0.44 | 0.59 | 0.60 | 0.59 |
| Shares Out. | 154.3M | 144.2M | 134.6M | 126.3M | 115.1M | 106.2M | 101.4M | 104.2M | 111.2M | 107.3M | 102.5M | 94.5M | 96.9M |
| Valuation | |||||||||||||
| P/E Ratio | 26.2 | 54.1 | 35.6 | 23.2 | 9.9 | 12.4 | N/A | N/A | 21.3 | 63.1 | 12.5 | N/A | -519.9 |
| P/FCF | 41.0 | 25.0 | 29.1 | 31.2 | 172.4 | 351.3 | N/A | 48.4 | 20.4 | 23.1 | 34.9 | 98.4 | 160.4 |
| EV/EBIT | 16.2 | 30.2 | 23.1 | 236.5 | N/A | 80.0 | N/A | N/A | N/A | 135.5 | 74.0 | 189.3 | N/A |
| Price/Book | 1.9 | 1.7 | 1.9 | 2.4 | 2.1 | 2.4 | 2.3 | 2.8 | 2.6 | 3.9 | 4.6 | 4.7 | 5.6 |
| Price/Sales | 1.9 | 1.8 | 1.4 | 1.6 | 1.9 | 1.6 | 3.0 | 2.7 | 1.7 | 1.8 | 2.3 | 1.9 | 2.5 |
| FCF Yield | 2.4% | 4.0% | 3.5% | 3.2% | 0.6% | 0.3% | -10.0% | 2.1% | 4.9% | 4.3% | 2.9% | 1.0% | 0.6% |
| Market Cap | 9.0B | 6.7B | 7.3B | 9.0B | 7.6B | 9.5B | 7.3B | 9.9B | 9.7B | 13.9B | 16.2B | 15.7B | 18.1B |
| Avg. Price | 55.16 | 53.20 | 47.27 | 56.98 | 74.40 | 73.31 | 61.09 | 78.74 | 88.27 | 110.82 | 147.30 | 140.85 | 187.13 |
| Year-End Price | 58.46 | 46.57 | 54.16 | 71.45 | 65.90 | 89.29 | 72.27 | 94.68 | 86.93 | 129.43 | 157.65 | 165.54 | 187.13 |
Hyatt Hotels Corp passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 48.6x vs a median of 31.2x. The company's 5-year average ROIC is 8.8%. Total shareholder yield (dividends + buybacks) is 1.9%. At current prices, the estimated annualized return to fair value is +83.8%.
Hyatt Hotels Corp (H) has a debt-to-equity ratio of 1.37. This indicates moderate leverage.
Hyatt Hotels Corp (H) reported earnings per share (EPS) of $-0.55 in its most recent fiscal year.
Hyatt Hotels Corp (H) has a return on equity (ROE) of -1.5%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 17 years of financial data for Hyatt Hotels Corp (H), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Hyatt Hotels Corp (H) has a book value per share of $35.26, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued momentum in the core fee business driven by net rooms growth of 6%-7% for full-year 2026, with accelerating openings from the development pipeline and conversion opportunities, particularly in new brands such as Unscripted by Hyatt. RevPAR growth is anticipated to be positive globally, with the United States expected to grow 2%-3% and international markets showing moderately higher growth, though tempered by Middle East headwinds; management remains increasingly positive about U.S. forward-booking trends, particularly for group business in the mid-single digits. The company expects adjusted EBITDA to grow 13%-18% in 2026, reflecting strong fee growth and benefits from the extended co-branded credit card agreement, while maintaining disciplined capital allocation with plans to return $325-375 million to shareholders through repurchases and dividends. Management is confident in the asset-light business model, targeting 90% asset-light earnings in 2026, and expects to continue selling properties to improve leverage and fund shareholder returns while preserving an investment-grade profile.
Based on recent SEC filings and earnings calls, Hyatt Hotels Corp (H) has provided the following forward guidance: System-wide RevPAR growth: 2%-4% (Full year 2026); U.S. RevPAR growth: 2%-3% (Full year 2026); Net rooms growth: 6%-7% (Full year 2026); Gross fees: $1.305 billion-$1.335 billion (Full year 2026); Adjusted EBITDA: $1.155 billion-$1.205 billion (Full year 2026), plus 2 additional metrics.
Gross fees (Full year 2026): “We are raising our gross fees outlook for the full year and expect fees to grow between 9%-11% in the range of $1.305 billion-$1.335 billion.”
Adjusted EBITDA (Full year 2026): “We expect adjusted EBITDA to grow at a strong rate of 13%-18% in the range of $1.155 billion-$1.205 billion.”
Adjusted free cash flow (Full year 2026): “We are maintaining our adjusted free cash flow outlook for the full year in the range of $580 million-$630 million, an increase of between 20%-30%.”
Capital returns to shareholders (Full year 2026): “Finally, we expect to return between $325 million and $375 million of capital to shareholders for the full year through share repurchases and dividends.”