Hyatt Lifts Capital Return Plan as Third-Quarter RevPAR Rises 7.2%

Hyatt Hotels raised its full-year outlook for revenue per available room and capital returns on Thursday after a third quarter in which gross fees jumped 15.2% and comparable RevPAR rose 7.2%, according to the earnings release it filed with an 8-K.

The hotel operator now projects 2026 comparable system-wide hotels RevPAR growth of 5.0% to 5.5%, and said the higher outlook reflects strong third-quarter performance and "sustained momentum following the Labor Day holiday." It increased planned capital returns to shareholders to $375 million to $425 million through dividends and buybacks.

Back in the black

Net income attributable to Hyatt was $58 million, or 60 cents a diluted share, compared with a loss of $49 million, or 51 cents a share, a year earlier. Adjusted diluted EPS was $1.27, and adjusted net income was $122 million. Results included $64 million of asset impairments.

Adjusted EBITDA rose 6.2% to $295 million, or 19% after adjusting for assets sold in 2025. Total revenues slipped to $1.743 billion from $1.786 billion.

"Our strong third quarter results, including 15% growth in Gross Fees, reinforce the strength of Hyatt's differentiated brands, growing commercial platform, and asset-light business model," Chairman, President and CEO Mark S. Hoplamazian said in the release.

Luxury leads, Mexico lags

Luxury led RevPAR growth, and leisure transient and group business both grew strongly, while business transient RevPAR rose in the low single digits. U.S. RevPAR grew 8.2%, which the company tied to the strength of the U.S. consumer and in part to the FIFA World Cup and the timing of the Jewish holidays.

The all-inclusive business was weaker. Net Package RevPAR at comparable all-inclusive resorts fell 2.5%, mainly due to lower demand for travel to certain destinations in Mexico. Distribution segment adjusted EBITDA also declined, partly because of hotel closures in Jamaica related to Hurricane Melissa.

Base management fees rose 10.0%, incentive management fees climbed 21.9%, and franchise and other fees increased 16.8%.

Growth pipeline and outlook

Hyatt opened 3,808 rooms in the quarter, and its pipeline of executed management or franchise contracts grew 12.1% to about 158,000 rooms. Net rooms growth for the trailing 12 months was 3.8%.

For 2026, the company expects net rooms growth of about 6%, gross fees of $1.32 billion to $1.335 billion, and adjusted EBITDA of $1.17 billion to $1.2 billion, up 14% to 17% from 2025 after adjusting for acquisitions and asset sales. It now expects distribution segment adjusted EBITDA to fall about $30 million for the year, $5 million more than in its prior outlook, due to lower demand in Mexico.

Buybacks and dividend

Hyatt repurchased 867,109 Class A shares for $147 million in the third quarter and had about $1.4 billion left under its authorization at the end of September. Through the first nine months, it returned $336 million to shareholders.

The board declared a fourth-quarter dividend of 15 cents a share, payable Dec. 7 to holders of record on Nov. 23.

By the numbers

• 7.2%: comparable system-wide hotels RevPAR growth
• 15.2%: gross fee growth, to $327 million
• $1.27: adjusted diluted EPS
• About 158,000: rooms in the development pipeline, up 12.1%

Sources

1. Hyatt Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 29, 2026 (accession 0001468174-26-000029)

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