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Hyatt House Irvine was among the new hotels added during the fourth quarter Hyatt House Irvine was among the new hotels added during the fourth quarter

Hyatt Reports Fourth Quarter 2017 Results

Hyatt Hotels Corporation reported fourth quarter 2017 financial results, revealing that its net income increased 87.4 percent to USD76 million.

According to Hyatt’s official results, 2017 finished strongly delivering full-year comparable RevPAR growth of 3.3 percent and net hotel rooms growth of seven percent, fueled by a record-setting 71 new hotels added to its portfolio. “Double-digit growth in management and franchising fees more than offset an earnings decline in our owned and leased segment, which reflected more than USD900 million in asset dispositions,” commented Mark Hoplamazian, president, Hyatt Hotels Corporation.

As of December 31, 2017, Hyatt had executed management or franchise contracts for approximately 330 hotels (approximately 70,000 rooms), compared to the expectation for 315 hotels and 69,000 rooms as of September 30, 2017. Additionally, Hyatt plans to update its 2018 outlook in connection with its first quarter earnings release to reflect the impact of the new revenue recognition standard.