Despite what he described as “meaningful regional headwinds” in parts of its portfolio, Hyatt Hotels Corp. President and CEO Mark Hoplamazian said the company had a positive second quarter of 2026. “We delivered strong [revenue per available room], fee and adjusted [earnings before interest, taxes, depreciation or amortization] growth; expanded World of Hyatt membership; and increased our development pipeline to record levels,” he said during an earnings call with investors.
“Hyatt has evolved into a more asset-light company with a differentiated operating model built around premium brands, a growing commercial platform and disciplined capital allocation,” Hoplamazian said. “Our objective is clear: To sustain a business model capable of delivering durable fee growth, increasing cash flow and attractive long-term returns over a wide range of operating environments.”
Hoplamazian credited the recent FIFA World Cup—held in the United States, Mexico and Canada—for driving profits, with host cities across the three countries delivering group RevPAR growth of more than 13 percent in June. Host cities in the United States generated leisure transient RevPAR growth of more than 17 percent in June, and CFO Joan Bottarini said the games contributed approximately 70 basis points of RevPAR growth. Leisure demand from “premium” travelers remained “exceptionally strong” during the quarter, Hoplamazian continued, with leisure transient RevPAR increasing approximately 7 percent compared to last year.
Net income was $110 million and adjusted net income was $108 million. Adjusted EBITDA was $297 million, up 3.4 percent from the second quarter of 2025, an increase of 8.8 percent after adjusting for assets sold in 2025.
Operations
Over the quarter, comparable systemwide hotels RevPAR increased 5.9 percent compared to the second quarter of 2025, largely driven by luxury and upper-upscale chain scales. Business transient RevPAR grew in the low single digits. Geopolitical conflict in the Middle East negatively impacted RevPAR growth by approximately 110 basis points
Net package RevPAR decreased 1.2 percent from the second quarter of 2025, reflecting softer demand in the second quarter, in part due to the security concerns in Mexico during the first quarter and lower airlift into certain destinations.
Owned and leased segment adjusted EBITDA increased 16 percent compared to the second quarter of 2025, after adjusting for 2025 asset sales. Distribution-segment adjusted EBITDA declined compared to the second quarter of 2025, primarily due to temporary factors, including hotel closures in Jamaica related to Hurricane Melissa and lower demand in Mexico.
Openings and Development
During the second quarter, the company opened 3,585 rooms and announced a strategic master franchise agreement with Dossen Group to develop and operate hotels for the Hyatt Select brand in the Chinese Mainland.
Net rooms growth year over year was 3.9 percent, or 4.4 percent excluding rooms from the Playa Hotels acquisition that were removed from Hyatt's room count in the second half of 2025. The pipeline of executed management or franchise contracts was approximately 154,000 rooms, an increase of 10 percent, compared to the second quarter of 2025.
“We continue to make progress on the planned sale of the Hyatt Grand Central New York,” Hoplamazian said. “However, based on our current expectations, we no longer expect the transaction to close in 2026.”
Full Year 2026 Outlook
- Comparable systemwide hotels RevPAR growth is projected to be between 3.5 percent and 4.5 percent, compared to the full year 2025
- Net rooms growth is projected to be approximately 6 percent, compared to the full year 2025
- Net income attributable to Hyatt Hotels Corp. is projected to be between $250 million and $335 million
- Adjusted EBITDA is projected to be between $1,155 million and $1,205 million, an increase of 13 percent to 18 percent, compared to the full year 2025, after adjusting for the period of ownership of hotels acquired as part of the Playa Hotels Acquisition and assets sold in 2025
The increase in the systemwide hotels RevPAR growth outlook reflects the strong second quarter performance in the United States, including the FIFA World Cup. The full year outlook assumes moderately stronger growth in international markets compared to the United States. United States RevPAR is now expected to grow between 3 percent and 4 percent for the full year.
Net rooms growth outlook is adjusted to reflect the weighting of expected openings in the back half of the year and the potential for some openings to shift into early 2027.
Adjusted EBITDA outlook reflects the strong gross fees outlook partially offset by a distribution segment adjusted EBITDA expected decline of approximately $25 million for the full year compared to 2025 driven by lower demand in Mexico and the impact of Hurricane Melissa.
No disposition or acquisition activity beyond what has been completed as of the date of this release has been included in the 2026 outlook.