Saturday 31 October 2026
Export H’s income statement to Excel — free account
Hyatt Hotels Corporation
Hyatt Hotels Corporation’s revenue for fiscal 2025 (year ended December 2025) was $7.1 billion, up 6.81% from fiscal 2024. In the quarter to June 2026, revenue grew 1.16%, EPS grew 4,000.0%, free cash flow grew 125.2% and total debt fell 29.1%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
181.07
3.23
−1.75%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Price, $ | |||||||||||||||||
| Price, $ | Low | 34.06 | 50.21 | 63.45 | 64.28 | 24.02 | 65.45 | 70.12 | 88.80 | 124.40 | 102.43 | +13.0% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | |
| High | 58.05 | 74.32 | 84.89 | 91.13 | 94.98 | 97.15 | 108.10 | 133.62 | 168.20 | 168.10 | +12.5% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ||
| People | |||||||||||||||||
| People | Employees | 45,000 | 45,000 | 54,000 | 55,000 | 37,000 | 44,000 | 50,000 | 206,000 | 227,000 | 242,000 | +20.6% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | |
| Revenue/emp, $m | 0.09 | 0.10 | 0.08 | 0.09 | 0.06 | 0.07 | 0.12 | 0.03 | 0.03 | 0.03 | (12.2%) | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ||
| Income, $m | |||||||||||||||||
| Income, $m | Revenue | 4,265 | 4,462 | 4,454 | 5,020 | 2,066 | 3,028 | 5,891 | 6,667 | 6,648 | 7,101 | +5.8% | 5,115 | 5,537 | 5,911 | (5.9%) | |
| Gross margin, % | 21.31 | 22.08 | 21.98 | 18.78 | (0.05) | 14.04 | 21.27 | 18.96 | 18.88 | 17.29 | (4.0) pt | ||||||
| EBT | 282 | 722 | 951 | 1,006 | (960) | 44 | 363 | 310 | 1,563 | 81 | (12.9%) | ||||||
| EBT margin, % | 6.61 | 16.18 | 21.35 | 20.04 | (46.47) | 1.45 | 6.16 | 4.65 | 23.51 | 1.14 | (5.5) pt | ||||||
| Net income | 206 | 390 | 769 | 766 | (703) | (222) | 455 | 220 | 1,296 | (49) | n/m | ||||||
| Depreciation | 368 | 398 | 375 | 421 | 399 | 431 | 522 | 514 | 433 | 433 | +1.8% | ||||||
| Per share, $ | |||||||||||||||||
| Per share, $ | Revenue | 32.08 | 35.74 | 39.33 | 48.00 | 20.39 | 29.12 | 54.00 | 63.58 | 66.62 | 74.35 | +9.8% | |||||
| Earnings | 1.53 | 3.12 | 6.79 | 7.33 | (6.93) | (2.13) | 4.17 | 2.10 | 12.99 | (0.55) | n/m | ||||||
| Cash flow | 3.48 | 4.70 | 3.01 | 3.79 | (6.03) | 3.03 | 6.18 | 7.63 | 6.34 | 3.97 | +1.5% | ||||||
| Capex | 0.59 | 2.92 | 9.58 | 5.46 | (0.37) | 6.22 | 3.89 | (1.98) | 12.54 | 15.14 | +43.5% | ||||||
| Free cash flow | 4.06 | 7.63 | 12.59 | 9.25 | (6.40) | 9.25 | 10.06 | 5.65 | 18.88 | 19.11 | +18.8% | ||||||
| Book value | 29.40 | 30.78 | 32.47 | 37.93 | 31.72 | 34.30 | 33.93 | 34.02 | 38.34 | 38.31 | +3.0% | ||||||
| Shares, m | 133 | 125 | 113 | 105 | 101 | 104 | 109 | 105 | 100 | 96 | (3.6%) | ||||||
| Valuation, × | |||||||||||||||||
| Valuation, × | P/E | 36.30 | 24.85 | 10.13 | 12.16 | 0.00 | 0.00 | 21.14 | 61.90 | 12.26 | 0.00 | 17.9 | |||||
| P/S | 1.74 | 2.07 | 1.72 | 1.87 | 3.64 | 3.29 | 1.64 | 2.04 | 2.36 | 2.16 | 2.3 | ||||||
| P/B | 1.90 | 2.40 | 2.08 | 2.37 | 2.34 | 2.80 | 2.62 | 3.82 | 4.09 | 4.18 | 2.9 | ||||||
| EV/Sales | 1.97 | 2.21 | 1.92 | 1.97 | 4.30 | 4.20 | 1.97 | 2.36 | 2.72 | 2.64 | 2.6 | ||||||
| EV/FCF | 15.52 | 10.38 | 6.01 | 10.23 | (13.69) | 13.21 | 10.58 | 26.61 | 9.59 | 10.29 | 9.9 | ||||||
| Cash, $m | |||||||||||||||||
| Cash, $m | Operating cash flow | 462 | 587 | 341 | 396 | (611) | 315 | 674 | 800 | 633 | 379 | (2.2%) | |||||
| Capex | 78 | 365 | 1,085 | 571 | (37) | 647 | 424 | (208) | 1,251 | 1,446 | +38.3% | ||||||
| Free cash flow | 540 | 952 | 1,426 | 967 | (648) | 962 | 1,098 | 592 | 1,884 | 1,825 | +14.5% | ||||||
| Balance, $m | |||||||||||||||||
| Balance, $m | Working capital | 215 | 335 | 284 | 620 | 1,579 | (170) | (1,037) | (1,448) | (541) | (717) | n/m | |||||
| Total debt | 1,564 | 1,451 | 1,634 | 1,623 | 3,244 | 3,978 | 3,113 | 3,056 | 3,782 | 4,278 | +11.8% | ||||||
| Net debt | 950 | 665 | 915 | 512 | 1,351 | 2,734 | 1,925 | 2,126 | 2,398 | 3,464 | +15.5% | ||||||
| Shareholders’ equity | 3,908 | 3,843 | 3,677 | 3,967 | 3,214 | 3,566 | 3,702 | 3,567 | 3,826 | 3,659 | (0.7%) | ||||||
| Returns, % | |||||||||||||||||
| Returns, % | ROA | 2.69 | 5.08 | 10.11 | 9.54 | (8.01) | (2.04) | 3.65 | 1.75 | 9.91 | (0.38) | (3.1) pt | |||||
| ROIC | 3.45 | 3.60 | 4.52 | 2.75 | (8.65) | (2.49) | 4.35 | 3.17 | 3.76 | 3.05 | (0.4) pt | ||||||
| ROE | 5.21 | 10.04 | 20.45 | 20.04 | (19.58) | (6.55) | 12.52 | 6.05 | 35.06 | (1.39) | (6.6) pt | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Where the money comes from and where it goes Fiscal 2024
| Management and franchising | 4,474 | 67.30% |
|---|---|---|
| Owned and leased | 1,197 | 18.01% |
| Distribution | 1,049 | 15.78% |
| Gross margin | 18.88% | |
| Operating margin | 5.63% | |
| Pre-tax margin | 23.51% |
Hyatt Hotels Corporation vs peers in Lodging (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MAR Marriott International, Inc. | $104.2B | 41.3× | 34.9× | +4.85% (above 0%: growing) | +4.32% (above 0%: growing) | +81.76% (above 0%: growing) | 21.98% | 17.38% | Compare |
| HLT Hilton Worldwide Holdings Inc. | $79.4B | 52.0× | 41.7× | +6.50% (above 0%: growing) | +14.59% (above 0%: growing) | −29.27% (below 0%: shrinking) | 92.04% | 25.68% | Compare |
| IHG Intercontinental Hotels Group | $24.8B | 28.4× | 27.5× | +93.76% (above 0%: growing) | +931.26% (above 0%: growing) | +155.56% (above 0%: growing) | 25.15% | 0.00% | Compare |
| H Hyatt Hotels Corporation | $17.4B | 211× | 53.5× | +1.16% (above 0%: growing) | n/m | +125.23% (above 0%: growing) | 20.78% | 6.94% | |
| HTHT H World Group Limited Sponsored ADR | $14.4B | 20.3× | 17.6× | +17.06% (above 0%: growing) | +5.71% (above 0%: growing) | +917.02% (above 0%: growing) | 43.43% | 31.05% | Compare |
| WH Wyndham Hotels & Resorts | $5.6B | 27.4× | 16.2× | −5.54% (below 0%: shrinking) | +21.24% (above 0%: growing) | +32.76% (above 0%: growing) | 93.07% | 46.40% | Compare |
| CHH Choice Hotels International, Inc. | $5.1B | 15.6× | 20.6× | +3.36% (above 0%: growing) | −19.32% (below 0%: shrinking) | +25.40% (above 0%: growing) | 94.22% | 23.63% | Compare |
| ATAT Atour Lifestyle Holdings Limited Sponsored ADR | $3.7B | 15.7× | 14.3× | +49.28% (above 0%: growing) | +42.86% (above 0%: growing) | +19.35% (above 0%: growing) | 43.60% | 22.15% | Compare |
| CVEO Civeo Corporation | $315.8M | — (loss-making) | — (loss-making) | +10.65% (above 0%: growing) | n/m | +233.36% (above 0%: growing) | 23.00% | 2.83% | Compare |
| Median of peers | $10.0B | 27.4× | 20.6× | +8.57% | +14.59% | +57.26% | 43.52% | 22.89% |
Business profile
From the latest earnings call
- CEO Mark Hoplamazian said premium travelers and the FIFA World Cup helped drive second-quarter RevPAR growth, while Hyatt’s development pipeline reached approximately 154,000 rooms.
- CFO Joan Bottarini said Mexico resort bookings were improving but remained below expectations, while Hyatt raised its full-year system-wide RevPAR growth outlook.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
50.79%
Held by the ten largest
32.97%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| BAMCO INC /NY/ | 7.28m | 7.72% | +937.41k |
| Principal Financial | 4.44m | 4.71% | −291.70k |
| BlackRock | 4.28m | 4.54% | +271.09k |
| Vanguard | 3.85m | 4.08% | +57.78k |
| Wellington Management | 2.83m | 3.00% | −1.56m |
| MFS Investment Management | 2.74m | 2.91% | −115.93k |
| Morgan Stanley | 1.57m | 1.67% | +220.59k |
| State Street | 1.43m | 1.52% | +31.17k |
| AllianceBernstein | 1.34m | 1.42% | +655.48k |
| Veritas Asset Management LLP | 1.33m | 1.41% | −9.88k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 2 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 26.70m | 36.19m | 218.56 |
| 2024 | 16.62m | 20.36m | 213.10 |
| 2023 | 20.79m | 56.44m | 176.30 |
| 2022 | 16.66m | 16.63m | 121.80 |
| 2021 | 24.07m | 36.92m | 129.20 |
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Read the proxy statement
Hyatt Hotels Corporation is a hospitality company that operates, franchises and owns hotels and resorts. It serves people traveling for leisure and business, as well as groups holding meetings and events. Its properties range from full-service hotels and all-inclusive resorts to select-service and extended-stay hotels.
Hyatt organizes its brands into five portfolios: Luxury, Lifestyle, Inclusive Collection, Classics and Essentials. They include Park Hyatt, Andaz, Hyatt Regency, Hyatt Place and Hyatt House. Some resorts cater to families, while others are reserved for adults. Hyatt also licenses brands for vacation and residential properties and offers a platform for booking private home rentals in the United States.