Hyatt Reports Second Quarter 2026 Results
Hyatt Q2 2026 saw system-wide RevPAR rise 5.9%, gross fees up 7.8% to $324M, and Adjusted EBITDA of $297M, with full-year RevPAR growth guidance set at 3.5%–4.5%.
CHICAGO - Hyatt Hotels Corporation ("Hyatt," "the Company," "we," "us," or "our") (NYSE: H) today reported second quarter 2026 results. Highlights include:
Comparable system-wide hotels RevPAR increased 5.9%, compared to the second quarter of 2025
Comparable system-wide all-inclusive resorts Net Package RevPAR decreased 1.2%, compared to the second quarter of 2025
Net rooms growth for the trailing twelve months was 3.9%, or 4.4% excluding rooms from the Playa Hotels Acquisition that were removed from Hyatt's room count in the second half of 2025
Pipeline of executed management or franchise contracts was approximately 154,000 rooms, an increase of 10.0%, compared to the second quarter of 2025
Diluted EPS was $1.14 and Adjusted Diluted EPS was $1.12
Net income attributable to Hyatt Hotels Corporation was $110 million and Adjusted Net Income was $108 million
Gross fees were $324 million, an increase of 7.8%, compared to the second quarter of 2025
Adjusted EBITDA was $297 million, an increase of 3.4%, compared to the second quarter of 2025, or an increase of 8.8% after adjusting for assets sold in 2025
Repurchased 62,605 shares of Class A common stock during the second quarter for an aggregate purchase price of $12 million. Year-to-date through June 30, 2026, the Company returned $175 million to shareholders through dividends and share repurchases
Full Year 2026 Outlook:
Comparable system-wide hotels RevPAR growth is projected to be between 3.5% and 4.5%, compared to the full year 2025
Net rooms growth is projected to be approximately 6%, compared to the full year 2025
Net income attributable to Hyatt Hotels Corporation is projected to be between $250 million and $335 million
Adjusted EBITDA is projected to be between $1,155 million and $1,205 million, an increase of 13% to 18%, compared to the full year 2025, after adjusting for the period of ownership of hotels acquired as part of the Playa Hotels Acquisition and assets sold in 2025
Capital returns to shareholders are projected to be between $325 million and $375 million through dividends and share repurchases
Our strong second quarter results reflect the continued strength of Hyatt's differentiated portfolio and the deep engagement of our high-value guests around the world. The resilience of our core fee business enabled us to absorb temporary regional headwinds while maintaining our full year outlook. Although we are taking a measured view on the timing of openings later this year, continued signing momentum and a high-quality development pipeline reinforce our confidence in Hyatt's long-term growth model and value creation strategy.
Mark S Hoplamazian, Chairman, President and Chief Executive Officer
Second Quarter Operational Commentary
Luxury and Upper Upscale chain scales drove RevPAR growth in the quarter. Leisure transient and group RevPAR each delivered strong growth, while business transient RevPAR grew in the low single digits. Geopolitical conflict in the Middle East negatively impacted RevPAR growth by approximately 110 bps.
Net Package RevPAR decreased 1.2%, compared to the second quarter of 2025, reflecting softer demand in the second quarter, in part due to the security concerns in Mexico during the first quarter and lower airlift into certain destinations.
Gross fees increased 7.8%, compared to the second quarter of 2025, reflecting strong core business performance.
Base management fees increased 10.2%, driven by managed hotel RevPAR, strength across the United States, and fees from the Playa Hotels Acquisition, partially offset by the impact of Hurricane Melissa.
Incentive management fees increased 2.6%, driven by fees from the Playa Hotels Acquisition and strong performance in Asia Pacific, partially offset by lower fees in the Middle East, Mexico, and Jamaica.
Franchise and other fees increased 8.1%, driven by non-RevPAR fee contributions and RevPAR growth in the United States, partially offset by franchise fees recognized in 2025 from the eight Hyatt Ziva and Hyatt Zilara properties that were part of the Playa Hotels Acquisition.
Owned and leased segment Adjusted EBITDA increased 16% compared to the second quarter of 2025, after adjusting for 2025 asset sales.
Distribution segment Adjusted EBITDA declined compared to the second quarter of 2025, primarily due to temporary factors, including hotel closures in Jamaica related to Hurricane Melissa and lower demand in Mexico.
Openings and Development
During the second quarter, the Company:
Opened 3,585 rooms. Notable openings included Miraval The Red Sea, the first Miraval property outside the United States and The Barai Hua Hin, introducing The Unbound Collection by Hyatt brand to Thailand.
Announced a strategic master franchise agreement with Dossen Group to develop and operate hotels for the Hyatt Select brand in the Chinese Mainland, supporting future expansion of Hyatt's portfolio in the region.
Balance Sheet and Liquidity
As of June 30, 2026, the Company reported the following:
Total debt of $4.3 billion.
Total liquidity of $2.1 billion, inclusive of:
$606 million of cash and cash equivalents and short-term investments; and
$1,497 million of available borrowing capacity under Hyatt's revolving credit facility, net of letters of credit outstanding.
The Company repurchased $12 million of Class A common stock during the second quarter. Remaining share repurchase authorization as of June 30, 2026 totaled approximately $1.5 billion.
The Company's board of directors has declared a cash dividend of $0.15 per share for the third quarter of 2026. The dividend is payable on September 10, 2026 to Class A and Class B stockholders of record as of August 27, 2026.
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About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of June 30, 2024, the Company's portfolio included more than 1,350 hotels and all-inclusive properties in 78 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, please visit www.hyatt.com.
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. 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 when made, are inherently uncertain, and are subject to numerous assumptions and uncertainties, many of which are outside of Kiraku, Inc. or Hyatt's control, which could cause actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Forward-looking statements made in this press release are made only as of the date of their initial publication and neither party undertakes an obligation to publicly update any of these forward-looking statements as actual events unfold, except to the extent required by applicable law. If one or more forward-looking statements is updated, no inference should be drawn that any additional updates will be made with respect to those or other forward-looking statements.