CHICAGO Hyatt Hotels Corp. saw its RevPAR rise 4.1% in the fourth quarter year over year, driven by higher occupancy and especially strong performance of its select-service Hyatt Place brand.
Chicago-based Hyatt posted earnings of US$6 million, or 3 cents per share, compared with a year-earlier loss of US$12 million, or 7 cents per share. Hyatt’s revenue rose to US$918 million from US$889 million a year earlier.
North America select-service RevPAR increased 9.5% compared to the fourth quarter of 2009. Internationally, overall performance across all segments was even better, jumping 11.7% year over year.
“In 2010, we achieved improvements in key drivers of brand value—namely associate engagement, customer satisfaction and our Gold Passport program, which demonstrates our loyalty to our best customers,” says President and CEO Mark Hoplamazian. “We also expanded our ability to serve more of our guests when they travel, as we opened over 30 hotels across all brands and expanded the number of executed contracts for future hotels. Looking ahead, we continue to focus on our key strategies and goals, reinvest in our hotels, and pursue many opportunities for expansion with existing and new owners. We are focused on creating value over the long-term and are excited about our prospects around the world.”