Hyatt witnessed a 256 per cent growth in revenue in Q1 across managed and franchised hotels in EMEA, led by favourable results in the Middle East as well as Western Europe which benefited from strong international inbound demand.

Mark S Hoplamazian, President and Chief Executive Officer of Hyatt, said: "For the fourth consecutive quarter we posted record results that exceeded our expectations, demonstrating our unique positioning and differentiated model. We raised our full-year RevPAR outlook while maintaining our record level pipeline and industry-leading net rooms growth. We continue to experience favourable booking trends and our outlook remains optimistic."

Hyatt reported a global net income of $58 million in the first quarter of 2023 compared to a net loss of $73 million in the first quarter of 2022.

Comparable system-wide RevPAR increased 42.9 per cent in the first quarter of 2023 compared to 2022. Adjusted EBITDA was $268 million in the first quarter of 2023 compared to $169 million in the first quarter of 2022.

In the Middle East, Hyatt’s footprint continues to go from strength to strength, with the company tripling its portfolio in the past ten years across the region. In key growth markets like the Kingdom of Saudi Arabia, Hyatt is set to triple its number of hotels across the country in the next five years, with highly awaited international brand debuts such as Miraval The Red Sea, and its significant brand entry into Madinah following the three signings of a combined 1,729 keys earlier this year, with plans to bring Grand Hyatt Madinah, Hyatt Regency Madinah and Hyatt Place Madinah to the city.

The fuel of business and leisure travel demand is showing favourable results across the Middle East. Hyatt expects to debut two lifestyle brands in Qatar across the next twelve months, with the openings of Andaz Doha and Dream Doha, which will not only grow the company’s footprint in the capital by 50 per cent, but also provide World of Hyatt members and travelers with more lifestyle brand choice and unique experiences in the destination.

The next twelve months will also mark an exciting milestone for the company’s growth plans across Africa, with three of the core Hyatt brands expected to debut in Kenya, including the expected openings of Hyatt Regency Nairobi, as well as the first-dual branded Hyatt property in the region, Hyatt Place Nairobi, Westlands and Hyatt House Nairobi, Westlands. Additionally, the company recently announced a signing agreement to expand its footprint in Egypt and bring its lifestyle brand, Hyatt Centric, to the capital with Hyatt Centric Cairo West in the coming years.

As of the first quarter of 2023, the EAME region represents 10 per cent of Hyatt’s global pipeline and remains an area of key importance to the company’s growth strategy. Reflecting its commitment to building a strong executive presence in EAME, Hyatt has made recent appointments to the leadership team, including the appointment of Stuart Deeson in January 2023 as Regional Vice President for Operations Middle East and Africa, Heidi Kunkel as Senior Vice President of Commercial Services EAME and Monique Dekker as Senior Vice President of Human Resources EAME, in April 2023.

The company’s transformative growth continues as they recently announced the completed acquisition of London-based Mr & Mrs Smith, a global travel platform that provides direct booking access to a carefully curated collection of more than 1,500 boutique and luxury properties. With this addition to the portfolio, World of Hyatt members will soon have even more rewarding stays and experiences to choose from, including more than 20 new countries for Hyatt such as Fiji, Croatia, Iceland and Anguilla.

World of Hyatt is the award-winning guest loyalty program uniting all Hyatt hotel brands. Travelers can join the program for free and enjoy the benefits of earning points on their stays, dining and spa experiences or meetings and events. Travelers can also use the points towards free nights, room upgrades and much more. 

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