Hyatt Releases Upbeat Hotel Metrics, Delays Conference Call

15.02.2024 - 19:37 / skift.com / Sean Oneill / Patrick Scholes / Hyatt Hotels

Hyatt postponed an investor conference call scheduled for Thursday. But investors shrugged off the delay and focused on preliminary financial results.

The hotel operator said it needed additional time “to finalize accounting related to Unlimited Vacation Club deferred cost activity in its Apple Leisure Group segment.” It added that there would be no “cash impact” from the result of that accounting.

“The optics, particularly related to anything ‘accounting’ related, are almost never good, especially when disclosed on the eve of an earnings release,” wrote Michael Bellisario, director, senior research analyst at Baird Equity Research, in a report. “Positively, though, Hyatt provided several performance highlights and operating updates, all of which were strong.”

Hyatt’s stock price rose more than 3% after the announcement of the postponed call and the release of preliminary data.

“That tells you everything,” Bellisario said in response to our query.

Other analysts agreed.

“While postponing earnings isn’t a good look for the company, the published results so far look very good and highly encouraging for 4Q earnings,” said C. Patrick Scholes, managing director, lodging and leisure equity research of Truist Securities, in response to our query.

Hyatt didn’t provide a full report on its 2023 performance. But it did release some key numbers for the year.

What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares.

The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more hotels and short-term rental financial sector performance.

Read the full methodology behind the Skift Travel 200.