- Hyatt Hotels Corp (NYSE:H) reported first-quarter FY22 revenues of $1.27 billion, beating the consensus of $1.1 billion.
- Comparable system-wide RevPAR increased 107% to $93.98. System-wide Net Rooms Growth was 18.6%.
- Selling, general, and administrative expenses increased 16.8% to $111 million.
- The company held $1.3 billion in cash and equivalents as of March 31, 2022.
- Adjusted EBITDA rose to $169 million versus an adjusted EBITDA loss of $(20) million last year.
- Adjusted EPS loss of $(0.33) beat the analyst consensus of $(0.36).
- Outlook: Hyatt expects FY22 capital expenditure to be $210 million.
- The company expects to grow net rooms by approximately 6.0%.
- "Our outlook remains very optimistic for the remainder of the year with system-wide RevPAR in April accelerating further from March," said CEO Mark S. Hoplamazian.
- Price Action: H shares are trading higher by 4.76% at $83.59 on the last check Tuesday.
