Hyatt trimmed its full-year outlook Thursday as the company navigated what executives described as “greater macro uncertainty” and a noticeable cooling in U.S. short-term booking trends.
Lowered Forecast: The Chicago-based hotel operator now expects RevPAR (revenue per available room) growth of 1% to 3% for this year, implying essentially flat to modest 2% growth for the remainder of the year after a strong first quarter that saw RevPAR jump 5.7%.
“As we sit here right now, the near term is definitely disrupted,” said Mark Hoplamazian, president and CEO, during the company’s earnings call. He mentioned “softer booking trends” and a “choppy environment.”
Declines in Upscale Brands: Domestic leisure and business transient bookings declined by “high single-