Hyatt sees signs that more people in big cities are returning to offices, which could eventually translate to more business transient travel at the hotel giant.
25.08.2023 - 14:11 / skift.com / Mark Hoplamazian / Rashaad Jorden / Sean Oneill / Seth Borko / Skift Research / Leah Chandler
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Hyatt saw revenue rise significantly in 2022, and the company is bullish on surging room rates helping drive further growth in 2023, reports Senior Hospitality Editor Sean O’Neill.
CEO Mark Hoplamazian attributed Hyatt’s strong fourth quarter in part to a jump in room rates. He said during the company’s quarterly earning call on Tuesday that fourth quarter rates were 14 percent above 2019 levels. Hyatt officials also projected that its revenue per available room, an important hotel industry metric, would increase up to 15 percent in 2023 from last year. O’Neill writes the company indicated rising room rates would help drive performance gains.
Hyatt generated almost $1.6 billion in revenue during the fourth quarter, a 24 percent increase from the same period in 2019. The company also posted a nearly $300 million profit.
Next, the pandemic helped spur more U.S. travelers to make direct bookings, but will that Covid-era trend continue? Skift Research delves into that topic and more in a newly published report examining how Americans’ online travel booking habits have changed since the start of the pandemic.
Senior Research Analyst Seth Borko writes that Skift Research asks more detailed questions in the new report than it did for previous surveys about Americans’ travel behaviors. Borko notes that the latest report poses three core questions, including whether the pandemic changed Americans’ trip planning process. Skift Research also explored the impact of inflation on travel decisions as well as shifts in booking sites that American travelers use.
We end today looking at Puerto Rico’s new tourism campaign. The Caribbean island is showcasing its artisans and designers as part of its strategy to promote more of its culture, reports Contributor Samantha Shankman.
The island’s destination marketing organization Discover Puerto Rico recently launched the second part of its Live Boricua campaign, which includes videos featuring products the island’s residents have created. Chief Marketing Officer Leah Chandler said the organization concluded that showcasing Puerto Rico’s culture would resonate with prospective visitors. Shankman writes that Discover Puerto Rico had opted to emphasize traveler experiences in the first part of the Live Boricua campaign.
Hyatt sees signs that more people in big cities are returning to offices, which could eventually translate to more business transient travel at the hotel giant.
Park Hyatt New York has unveiled a new art installation from local contemporary abstract artist and hotel bellman for nine years, Jeffrey Okyere-Agyei.
One might describe Andrew Trotter’s passion for Puglia, in southern Italy, as a slow burn. The British-born, Barcelona-based designer first visited the region, which forms the heel of Italy’s geographic boot, about a decade ago. His close friend Carlo Lanzini planned to create a boutique hotel that would cater to the growing number of travelers lured by Puglia’s charming medieval villages, its sun-bleached landscape dotted with ancient olive groves and its nearly 500 miles of coastline, featuring picturesque coves with limestone cliffs and lovely sand beaches.
In celebration of the launch, World of Hyatt members can earn 3x points across 20+ Hyatt Vacation Club resorts.
Travelers United’s choice to sue Hyatt over its “junk fee” practices fits into a broader storyline about travel junk fees being in the limelight ever since President Joe Biden referred to travel fees in his 2023 State of the Union address.
Hyatt just lapped the one-year anniversary of acquiring the all-inclusive resort company Apple Leisure Group in a $2.7 billion deal. The Chicago, Illinois-based hotel group is now looking to expand its hotel presence in European cities that could help feed its all-inclusives, according to comments executives made as they reported its earnings.
Good morning from Skift. It’s Monday, November 21. Here’s what you need to know about the business of travel today.
Hyatt Hotel Corp. said on Tuesday it would acquire Dream Hotel Group’s lifestyle hotel brands, including Dream Hotels, The Chatwal Hotels, and Unscripted Hotels.
Good morning from Skift. It’s Wednesday, November 30. Here’s what you need to know about the business of travel today.
Good morning from Skift. It’s Thursday, January 5, and here’s what you need to know about the business of travel today.
Top Hyatt executives said on Tuesday they planned to create hotels and resorts in two destinations on Mexico’s Caribbean coast — Tulum and Isla Mujeres — with about 5,000 rooms together.
Hilton Worldwide’s earnings report on Thursday was a good news-bad news story.