Hyatt to Expand in Upper-Midscale Through Luxury
Skift Take
- Hyatt Hotels held an Investor Day today. They are forecasting $650 to $850 million of free cash flow by 2025 and will be 80% asset-light for their earnings mix.
- Effective Thursday, the Board of Directors of Louvre Hotel Group has appointed Federico J. Gonzalez as Group CEO.
- Hilton announced the signing of a management agreement for the first all-inclusive Curio Collection by Hilton property in the Dominican Republic, the new build Zemi Miches All-Inclusive Resort, Curio Collection by Hilton.
The DJIA was down 222, Nasdaq was up 22, the S&P 500 was down 7% and the 10-year treasury yield was down .05 to 3.40%. Lodging stocks were lower. SLNA traded down to a new low, down another -6% but SOND was down -20% and AHT was down -5%.
Hyatt Hotels held an Investor Day today. They are forecasting $650 to $850 million of free cash flow by 2025 and will be 80% asset-light for their earnings mix. H said they had increased their mix of Luxury, Lifestyle and Resort rooms to 44% of the portfolio in 2022 versus 32% in 2017. They expect the acquisition of Mr & Mrs Smith will expand its brand presence in luxury. They also are strategically expanding their portfolio in upper midscale and upscale, including the recent announcement of the Hyatt Studios brand. They reinstated their dividend at $0.15 per share a quarter. Once again it was a lousy day in the stock market to have a good announcement.
B.Riley cut
