Hyatt Hotels Corporation (NASDAQ:H) reported net income above Wall Street’s expectations for the second quarter. Hyatt Hotels Corporation provides hospitality services on a worldwide basis through the management, franchising and ownership of hospitality related businesses.
Hyatt Hotels Earnings Cheat Sheet for the Second Quarter
Results: Net income for the lodging company rose to $37 million (22 cents per share) vs. $25 million (14 cents per share) in the same quarter a year earlier. This marks a rise of 48% from the year earlier quarter.
Revenue: Rose 5.3% to $936 million from the year earlier quarter.
Actual vs. Wall St. Expectations: H reported adjusted net income of 27 cents per share. By that measure, the company beat the mean estimate of 15 cents per share. It beat the average revenue estimate of $910.1 million.
Quoting Management: Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “Our business performed well in the second quarter, showing solid growth in earnings, stronger occupancy levels and increased average rates in multiple segments and regions. Management and franchise fee growth was over 15%. We continued to expand our presence in markets that are important to our customers and increased our executed contract base for future hotels to 150.”
The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the first quarter, by one cent in the fourth quarter of the last fiscal year, and by 2 cents in the third quarter of the last fiscal year.
Competitors to Watch: Starwood Hotels & Resorts Worldwide, Inc (NYSE:HOT), Marriott Intl., Inc. (NYSE:MAR), Silverleaf Resorts, Inc. (NASDAQ:SVLF), ILX Resorts Incorporated (ILXRQ), Morgans Hotel Group Co. (NASDAQ:MHGC), Bluegreen Corporation (NYSE:BXG), Red Lion Hotels Corp. (NYSE:RLH), Gaylord Entertainment Co. (NYSE:GET), InterContinental Hotels Group PLC (NYSE:IHG), and Sonesta Intl. Hotels Corp. (NASDAQ:SNSTA).
(Source: Xignite Financials)