Hyatt executives painted a positive picture of the future on Thursday, despite some short-term challenges.
The key takeaways of the earnings call for the second quarter:
The wealthy are still travelling: luxury brands saw a rise of over 5% in Revenue per Available Room (RevPAR), whereas budget hotels were down. This shows how the demand is strongest at the high end of the market, where consumers are still looking for experiences and traveling.
The company has benefitted from this cycle, because 70% of the rooms are luxury or upper-upscale brands. Meanwhile, other competitors are exposed to more mid-market and budget brands that are suffering.
