Hyatt Hotels Corporation is flying high into the second half of 2025 after besting Wall Street expectations in the second quarter with the help of its strategic acquisition of Playa Hotels & Resorts.
The hotel giant reported its Q2 2025 earnings on Thursday, with adjusted earnings per share coming in at $0.68—three cents above projections—revenue per available room (RevPAR) climbing 1.6 percent compared to the second quarter of 2024 and net rooms growth of nearly 12 percent.
Hyatt also reported adjusted EBITDA of $303 million, marking a decrease of 1.1 percent compared to the second quarter of 2024, but an increase of 9 percent after adjusting for assets sold last year.
Meanwhile, gross fees reached $301 million, an increase of 9.5 percent compared to last year's second quarter.
"The second quarter’s results reflect solid performance across our business, including strong fee contribution in a lower RevPAR growth environment," Hyatt President and CEO Mark Hoplamazian said in a statement. "As we look ahead, we are encouraged by recent booking trends, leaving us optimistic about improving performance in the fourth quarter and into next year.
"We are confident that we will continue to deliver strong financial results as we leverage our brand-led strategy and long history of industry-leading net rooms growth."
Playa Transactions Pave the Way
Aerial view of Hyatt Ziva Los Cabos, part of Playa Hotels & Resorts. (Photo Credit: Hyatt Hotels Corporation)
Hoplamazian attributed the strong quarter to Hyatt's acquistion and subsequent real estate sales involving Playa Hotels & Resorts.
Hyatt completed its $2.6 billion acquisition of Playa in June and later announced an agreement with Tortuga Resorts to sell the entirety of the real estate portfolio acquired for $2 billion.
"The Playa transactions, including the agreement to sell the entirety of Playa’s real estate portfolio, reinforce our commitment to our asset-light business model and solidifies our leadership in the fast-growing luxury all-inclusive segment," he added. "The acquisition and planned disposition of the Playa real estate portfolio, at an attractive multiple, allows us to once again create highly durable fees and long-term value for shareholders.”
Hyatt's Full-Year 2025 Outlook
Looking ahead to the remainder of 2025, Hyatt anticipates RevPAR growth between 1 and 3 percent compared to the full year 2024, while net rooms growth excluding acquisitions is projected between 6 and 7 percent, compared to last year.
Net income is projected between $135 million and $165 million, while adjusted EBITDA is projected between $1,085 million and $1,130 million. That estimate marks an increase of 7 to 11 percent after adjusting for assets sold in 2024, compared to the full year 2024, according to Hyatt.
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