Hyatt Hotels Q3 Profit Slides While RevPAR Rises

(RTTNews) - Hyatt Hotels Corporation (H) Thursday reported profit of $28 million or $0.25 per share in the third quarter, lower than $120 million or $1.15 per share in the same quarter a year ago.

Excluding one-time items, earnings were 0.64 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.28 per share. Analysts' estimates typically exclude special items.

The company said its comparable system-wide RevPAR increased 45.9% to $133.31 from last year.

Comparable system-wide RevPAR increased 2.0% in the third quarter compared to the same period in 2019 driven by an increase in average rate of 13.6%.