Key Points

• Hyatt lowered its full-year RevPAR growth outlook due to softer short-term booking trends and macroeconomic uncertainty, especially in the U.S.
• Luxury brands and international markets, particularly Asia Pacific and Europe, are outperforming, while domestic upscale and select-service brands face declines.
• Hyatt’s asset-light business model now accounts for over 80% of earnings, making the company more resilient to economic volatility.

Summary

Hyatt has revised its full-year revenue growth outlook downward amid softer short-term booking trends and increased macroeconomic uncertainty, particularly impacting its U.S. upscale brands. While domestic leisure and business transient bookings have declined, the company’s luxury brands and international markets, especially in Asia Pacific and Europe, continue to show strong performance. Hyatt’s shift to an asset-light business model has increased its resilience, with group bookings and all-inclusive resorts also providing bright spots for future growth.