Hyatt Hotels Revises FY18 Outlook - Quick Facts

(RTTNews) - Hyatt Hotels Corporation (H) announced, for 2018, net income is expected to be approximately $495 million to $553 million, compared to previous expectation of $176 million to $215 million. Adjusted EBITDA is expected to be approximately $765 million to $785 million, compared to previous expectation of approximately $805 million to $825 million. Comparable systemwide RevPAR is expected to increase approximately 2.0% to 3.5% compared to previous expectation of 1.0% to 3.0%.

The company expects to grow net rooms by approximately 6.5% to 7.0%, compared to previous expectation of approximately 6.0% to 6.5%. The number of hotel openings remains at approximately 60.

The company expects to return at least $700 million to shareholders, compared to a previous expectation of at least $500 million, through a combination of cash dividends on its common stock and share repurchases.

First-quarter net income increased 643.6% to $411 million, aided by gains on sales of real estate. Adjusted EBITDA decreased 7.3% to $202 million, down 8.4% in constant currency. Comparable systemwide RevPAR increased 4.3%, including an increase of 1.6% at comparable owned and leased hotels. Excluding the impact of Easter holiday timing, comparable systemwide RevPAR increased 4.6% and comparable owned and leased RevPAR increased 2.0%.