• Hyatt’s transformative growth plan gains momentum in the Middle East and Africa region, with four signings in the Kingdom of Saudi Arabia in the first half of 2023, an upcoming brand expansion in Egypt, two brand debuts set for Qatar and three brand debuts expected in Kenya across the next year.
  • Hyatt shared a global net income of $58 million in the first quarter of 2023 compared to a net loss of $73 million in the first quarter of 2022.
  • Comparable system-wide RevPAR increased 42.9 per cent in the first quarter of 2023 compared to 2022.
  • Adjusted EBITDA was $268 million in the first quarter of 2023 compared to $169 million in the first quarter of 2022.
  • Hyatt expects to triple its portfolio in the Kingdom of Saudi Arabia in the next five years.
  • Hyatt is set to debut three brands in Kenya in the next twelve months, with the slated opening of Hyatt Regency Nairobi, as well as the first dual-branded Hyatt property in Africa, Hyatt House Nairobi, Westlands and Hyatt Place Nairobi, Westlands.
  • Two of Hyatt’s lifestyle brands are set to debut in the capital of Qatar across the next twelve months, with the anticipated opening of Andaz Doha and the international debut of the Dream brand with Dream Doha, showcasing the group’s commitment to expanding its lifestyle hotel portfolio in destinations that matter to guests, World of Hyatt members and owners.

DUBAI – Hyatt recently announced its first quarter 2023 financial results, which reflected strength in the company’s global portfolio, including Europe, the Middle East and Africa (EMEA) region. Compared to the first quarter of 2022, Hyatt witnessed a 256 per cent growth in revenue across managed and franchised hotels in EMEA, led by favorable results in the Middle East as well as Western Europe which benefited from strong international inbound demand.

Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt, said, "For the fourth consecutive quarter we posted record results that exceeded our expectations, demonstrating our unique positioning and differentiated model. We raised our full-year RevPAR outlook while maintaining our record level pipeline and industry-leading net rooms growth. We continue to experience favorable booking trends and our outlook remains optimistic."

In the Middle East, Hyatt’s footprint continues to go from strength to strength, with the company tripling its portfolio in the past ten years across the region. In key growth markets like the Kingdom of Saudi Arabia, Hyatt is set to triple its number of hotels across the country in the next five years, with highly awaited international brand debuts such as Miraval The Red Sea, and its significant brand entry into Madinah following the three signings of a combined 1,729 keys earlier this year, with plans to bring Grand Hyatt Madinah, Hyatt Regency Madinah and Hyatt Place Madinah to the city.

The fuel of business and leisure travel demand is showing favorable results across the Middle East. Hyatt expects to debut two lifestyle brands in Qatar across the next twelve months, with the openings of Andaz Doha and Dream Doha, which will not only grow the company’s footprint in the capital by 50 per cent, but also provide World of Hyatt members and travelers with more lifestyle brand choice and unique experiences in the destination.

The next twelve months will also mark an exciting milestone for the company’s growth plans across Africa, with three of the core Hyatt brands expected to debut in Kenya, including the expected openings of Hyatt Regency Nairobi, as well as the first-dual branded Hyatt property in the region, Hyatt Place Nairobi, Westlands and Hyatt House Nairobi, Westlands. Additionally, the company recently announced a signing agreement to expand its footprint in Egypt and bring its lifestyle brand, Hyatt Centric, to the capital with Hyatt Centric Cairo West in the coming years.

As of the first quarter of 2023, the EAME region represents 10 per cent of Hyatt’s global pipeline and remains an area of key importance to the company’s growth strategy. Reflecting its commitment to building a strong executive presence in EAME, Hyatt has made recent appointments to the leadership team, including the appointment of Stuart Deeson in January 2023 as Regional Vice President for Operations Middle East and Africa, Heidi Kunkel as Senior Vice President of Commercial Services EAME and Monique Dekker as Senior Vice President of Human Resources EAME, in April 2023.

The company’s transformative growth continues as they recently announced the completed acquisition of London-based Mr & Mrs Smith, a global travel platform that provides direct booking access to a carefully curated collection of more than 1,500 boutique and luxury properties. With this addition to the portfolio, World of Hyatt members will soon have even more rewarding stays and experiences to choose from, including more than 20 new countries for Hyatt such as Fiji, Croatia, Iceland and Anguilla.

World of Hyatt is the award-winning guest loyalty program uniting all Hyatt hotel brands. Travelers can join the program for free and enjoy the benefits of earning points on their stays, dining and spa experiences or meetings and events. Travelers can also use the points towards free nights, room upgrades and much more.

-Ends-

For information on Hyatt’s existing brand portfolio and the World of Hyatt loyalty program, please visit www.hyatt.com.
To view Hyatt’s first quarter earnings and read the full press release, please visit Hyatt’s newsroom.

The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.

Forward-Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the rate and the pace of economic recovery following economic downturns; global supply chain constraints and interruptions, rising costs of construction-related labor and materials, and increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business; risks affecting the luxury, resort, and all-inclusive lodging segments; levels of spending in business, leisure, and group segments, as well as consumer confidence; declines in occupancy and average daily rate; limited visibility with respect to future bookings; loss of key personnel; domestic and international political and geo-political conditions, including political or civil unrest or changes in trade policy; hostilities, or fear of hostilities, including future terrorist attacks, that affect travel; travel-related accidents; natural or man-made disasters, weather and climate-related events, such as earthquakes, tsunamis, tornadoes, hurricanes, droughts, floods, wildfires, oil spills, nuclear incidents, and global outbreaks of pandemics or contagious diseases, or fear of such outbreaks; the pace and consistency of recovery following the COVID-19 pandemic and the long-term effects of the pandemic, additional resurgence, or COVID-19 variants, including with respect to global and regional economic activity, travel limitations or bans, the demand for travel, transient and group business, and levels of consumer confidence; the ability of third-party owners, franchisees, or hospitality venture partners to successfully navigate the impacts of the COVID-19 pandemic, any additional resurgence, or COVID-19 variants or other pandemics, epidemics or other health crises; our ability to successfully achieve certain levels of operating profits at hotels that have performance tests or guarantees in favor of our third-party owners; the impact of hotel renovations and redevelopments; risks associated with our capital allocation plans, share repurchase program, and dividend payments, including a reduction in, or elimination or suspension of, repurchase activity or dividend payments; the seasonal and cyclical nature of the real estate and hospitality businesses; changes in distribution arrangements, such as through internet travel intermediaries; changes in the tastes and preferences of our customers; relationships with colleagues and labor unions and changes in labor laws; the financial condition of, and our relationships with, third-party property owners, franchisees, and hospitality venture partners; the possible inability of third-party owners, franchisees, or development partners to access the capital necessary to fund current operations or implement our plans for growth; risks associated with potential acquisitions and dispositions and our ability to successfully integrate completed acquisitions with existing operations, including with respect to our acquisition of Apple Leisure Group and Dream Hotel Group and the successful integration of each business; failure to successfully complete proposed transactions (including the failure to satisfy closing conditions or obtain required approvals); our ability to successfully execute on our strategy to expand our management and franchising business while at the same time reducing our real estate asset base within targeted timeframes and at expected values; declines in the value of our real estate assets; unforeseen terminations of our management or franchise agreements; changes in federal, state, local, or foreign tax law; increases in interest rates, wages, and other operating costs; foreign exchange rate fluctuations or currency restructurings; risks associated with the introduction of new brand concepts, including lack of acceptance of new brands or innovation; general volatility of the capital markets and our ability to access such markets; changes in the competitive environment in our industry, including as a result of the COVID-19 pandemic, industry consolidation, and the markets where we operate; our ability to successfully grow the World of Hyatt loyalty program and Unlimited Vacation Club paid membership program; cyber incidents and information technology failures; outcomes of legal or administrative proceedings; and violations of regulations or laws related to our franchising business and licensing businesses and our international operations;; and other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”), including our annual report on Form 10-K and our Quarterly Reports on Form 10-Q, which filings are available from the SEC. These factors are not necessarily all of the important factors that could cause our actual results, performance or achievements to differ materially from those expressed in or implied by any of our forward-looking statements.  We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

MEDIA CONTACTS:
Chloe Duncan
Hyatt – Middle East and Africa
chloe.duncan@hyatt.com
Andrea Wubben
Q Communications – Dubai, United Arab Emirates
andrea.w@qcomms.ae