CHICAGO–(BUSINESS WIRE)–May. 1, 2013– Hyatt Hotels Corporation (?Hyatt? or the ?Company?) (NYSE: H) today reported first quarter 2013 financial results as follows:
- Adjusted EBITDA was $131 million in the first quarter of 2013 compared to $125 million in the first quarter of 2012, an increase of 4.8%.
- Adjusted for special items, net income attributable to Hyatt was $14 million, or $0.09 per share, during the first quarter of 2013 compared to net income attributable to Hyatt of $5 million, or $0.03 per share, during the first quarter of 2012.
- Net income attributable to Hyatt was $8 million, or $0.05 per share, during the first quarter of 2013 compared to net income attributable to Hyatt of $10 million, or $0.06 per share, in the first quarter of 2012.
- Comparable owned and leased hotel RevPAR increased 4.5% (4.4% excluding the effect of currency) in the first quarter of 2013 compared to the first quarter of 2012.
- Owned and leased hotel operating margins increased 20 basis points in the first quarter of 2013 compared to the first quarter of 2012. Comparable owned and leased hotel operating margins were flat in the first quarter of 2013 compared to the first quarter of 2012.
- Comparable systemwide RevPAR increased 2.4% (3.2% excluding the effect of currency) in the first quarter of 2013 compared to the first quarter of 2012.
- Comparable U.S. full service hotel RevPAR increased 2.7% in the first quarter of 2013 compared to the first quarter of 2012. Comparable U.S. select service hotel RevPAR increased 6.4% in the first quarter of 2013 compared to the first quarter of 2012.
- Eight properties were opened. As of March 31, 2013, the Company’s executed contract base consisted of approximately 200 hotels or 45,000 rooms.
- The Company repurchased 664,951 shares of Class A common stock at a weighted average price of $41.32 per share, for an aggregate purchase price of approximately $27 million.
- On April 30, 2013, the Company’s Board of Directors authorized the repurchase of up to an additional $200 million of common stock.
Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “Our first quarter of 2013 reflected continued improvement in average daily rates with comparable owned and leased average daily rate increasing 4% excluding the impact of currency. We continued to see strength in transient demand, however group demand declined, in part due to the timing of Easter as compared to the prior year.
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