Hyatt Reports Shrinking Losses in 2009

1st March 2010 (Last Updated March 1st, 2010 18:30)

Hyatt Hotels has reported a net loss of $12m in the fourth quarter of 2009 compared with a loss of $142m in 2008. Adjusted EBITDA stood at $104m, a 7.2% rise compared with $97m in the fourth quarter of 2008, while RevPAR fell by 6.7%, revenues decreased by 4.7% and operatin

Hyatt Hotels has reported a net loss of $12m in the fourth quarter of 2009 compared with a loss of $142m in 2008.

Adjusted EBITDA stood at $104m, a 7.2% rise compared with $97m in the fourth quarter of 2008, while RevPAR fell by 6.7%, revenues decreased by 4.7% and operating margins declined 330 basis points.

The company said it had opened nine properties in the fourth quarter of 2009 and 30 properties in the full year, while it anticipates opening more than 20 properties in 2010.

For the full year, adjusted EBITDA was $406m, net loss stood at $43m and RevPAR fell by 18.4%.

Hyatt Hotels Corporation owns 424 luxury hotels in its portfolio.