Hyatt Hotels Corporation (“Hyatt” or the “Company”) (NYSE: H) reported financial results for the fourth quarter and full year of 2009 as follows:
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FOURTH QUARTER 2009
Adjusted EBITDA was $104 million compared to $97 million in the fourth quarter of 2008, an increase of 7.2% (4.3% excluding the effect of currency). The increase was largely driven by lower selling, general and administrative expenses compared to the fourth quarter of 2008.
Net loss attributable to Hyatt was $12 million, or $0.07 per share, compared to a net loss attributable to Hyatt of $142 million, or $1.11 per share, in the fourth quarter of 2008. Net loss attributable to Hyatt included an unfavorable impact from special items of $13 million after-tax, or $0.07 per share, during the fourth quarter of 2009 compared to an unfavorable impact of $129 million after-tax, or $1.00 per share, during the fourth quarter of 2008.
Comparable owned and leased hotels RevPAR decreased 6.7% (8.3% excluding the effect
of currency) compared to the fourth quarter of 2008.
Owned and leased hotel operating margins declined 330 basis points compared to the
fourth quarter of 2008. Comparable owned and leased hotel operating margins declined 220 basis points compared to the same period in 2008. See the table on page 9 of the
accompanying schedules for a reconciliation of comparable owned and leased hotel
operating margins to owned and leased hotel operating margins.
Comparable North American full-service RevPAR decreased 11.1% compared to the fourth
quarter of 2008. Comparable North American select-service RevPAR decreased 11.9%
compared to the fourth quarter of 2008.
Comparable International RevPAR increased 0.4% (decreased 5.5% excluding the effect of currency) compared to the fourth quarter of 2008.
The Company opened nine properties.
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Hyatt Quarter ending dec 2009 financial results
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