Hyatt Raises Full-Year RevPAR Outlook After Fee Growth

The Tip Desk · October 31, 2026 · 3 min read

Gross fees rose 15.2% to $327 million as comparable hotels RevPAR growth accelerated to 7.2% from 5.9% in the second quarter.

Hyatt Hotels Corporation (H) raised its full-year 2026 comparable system-wide hotels RevPAR growth outlook to 5.0% to 5.5% after third-quarter results showed that growth accelerating to 7.2% from 5.9% in the second quarter, following 5.4% in the first quarter.

The Chicago-based hospitality company said the lift reflects strong third-quarter performance and sustained momentum after Labor Day. United States RevPAR is now expected to grow between 5% and 6% for the full year.

Gross fees increased 15.2% to $327 million, a faster pace than 7.8% growth to $324 million in the second quarter and 8.6% growth to $333 million two quarters earlier. The company said the increase reflected strong core business performance. Base management fees rose 10.0%, incentive management fees 21.9%, and franchise and other fees 16.8%.

Adjusted EBITDA was $295 million, up 6.2% from a year earlier, or 19% after adjusting for assets sold in 2025. That compared with 3.4% growth at $297 million (8.8% adjusted) in the second quarter and 2.1% at $266 million (2.9% adjusted) in the first quarter.

Net income attributable to Hyatt Hotels Corporation was $58 million, or $0.60 a share. Adjusted diluted EPS was $1.27.

Luxury led RevPAR growth, the company said. Leisure transient and group RevPAR each delivered strong growth; business transient RevPAR increased in the low single digits. United States RevPAR grew 8.2%, which the company attributed in part to the U.S. consumer, the FIFA World Cup, and the timing of the Jewish holidays. Asia Pacific excluding Greater China RevPAR rose 10.8%, the Americas excluding the United States 9.2%, and Europe 4.3%. Middle East and Africa RevPAR declined 0.7%.

Comparable system-wide all-inclusive resorts Net Package RevPAR decreased 2.5%, a deeper drop than the 1.2% decline in the second quarter after a 7.4% increase in the first quarter. The company said the decline primarily reflected lower demand for travel to certain destinations in Mexico, partially offset by growth in the Caribbean and Europe.

Owned and leased segment Adjusted EBITDA declined 1% after adjusting for 2025 asset sales. Distribution segment Adjusted EBITDA declined, primarily due to temporary factors including hotel closures in Jamaica related to Hurricane Melissa and lower demand in Mexico.

The pipeline of executed management or franchise contracts was approximately 158,000 rooms, up 12.1% from a year earlier, after a 10.0% increase to about 154,000 rooms in the second quarter. The company opened 3,808 rooms in the third quarter. Trailing-twelve-month net rooms growth was 3.8%, or 3.9% excluding rooms from the Playa Hotels Acquisition that were removed from Hyatt’s room count in the fourth quarter of 2025.

Hyatt repurchased 867,109 shares of Class A common stock for $147 million in the third quarter. Remaining share repurchase authorization totaled approximately $1.4 billion as of September 30, 2026. The board declared a cash dividend of $0.15 a share for the fourth quarter.

For the full year, the company now projects net income attributable to Hyatt Hotels Corporation of $240 million to $310 million, down from a prior range of $250 million to $335 million. Adjusted EBITDA is projected at $1,170 million to $1,200 million, an increase of 14% to 17% versus 2025 after adjusting for Playa ownership periods and 2025 asset sales. Capital returns through dividends and share repurchases have been increased and are projected at $375 million to $425 million.

Net Package RevPAR is expected to return to growth in the fourth quarter and remain positive for the full year, the company said, as booking trends in Mexico continue to improve sequentially. The Adjusted EBITDA outlook includes an expected decline of about $30 million in Distribution segment Adjusted EBITDA for the full year versus 2025, a $5 million incremental decline versus the prior outlook, driven by lower demand in Mexico.