Hyatt reduced its full-year guidance Thursday due to what the company’s executives described as a “greater level of macro uncertainty”, and a cooling trend in U.S. booking trends.
Lower Forecast: Chicago-based hotel operators now expect RevPAR growth (revenue per room available) of 1% to 3 % for this year. This implies a essentially flat or modest 2% for the rest of the year following a strong quarter in which RevPAR jumped 5.7%.
Mark Hoplamazian said, “We are sitting here and the near-term is definitely disrupted.” He made this statement during the company earnings call. He spoke of “softer bookings” and “a choppy environment.”
Bookings for domestic leisure and business travel have declined by “high single digits”.
