Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) today reported second-quarter 2020 financial results. Net loss attributable to Hyatt was $236 million, or $2.33 per diluted share, in the second quarter of 2020, compared to net income attributable to Hyatt of $86 million, or $0.80 per diluted share, in the second quarter of 2019. Adjusted net loss attributable to Hyatt was $183 million, or $1.80 per diluted share, in the second quarter of 2020, compared to Adjusted net income attributable to Hyatt of $82 million, or $0.76 per diluted share, in the second quarter of 2019. Refer to the table on page 13 of the schedules for a summary of special items impacting Adjusted net income (loss) and Adjusted earnings (losses) per share in the three months ended June 30, 2020.
Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “I want to thank our colleagues around the world for their exceptional work under the most difficult of circumstances over the past several months. During these unprecedented times, we are unwavering in our commitment to living our purpose to care for our colleagues, guests, owners and communities across the globe. Our purpose guides us to focus on health and safety and to drive policies and programs that create opportunity for all as we reimagine how we operate during the COVID-19 pandemic.”
Second quarter of 2020 highlights as compared to the second quarter of 2019 are as follows:
- Net income (loss) decreased 376.0% to a net loss of $236 million.
- Adjusted EBITDA decreased 154.6% to $(117) million.
- Cash and cash equivalents of $1,438 million.
- Comparable system-wide RevPAR decreased 89.4%.
- Net rooms growth of 5.8%.
- Pipeline of executed management or franchise contracts for approximately 101,000 rooms, an increase of approximately 9.8% compared to the second quarter 2019.