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Global hotel company franchising and managing upscale and luxury brands including Hyatt, Park Hyatt and Andaz.
Global hotel company franchising and managing upscale and luxury brands including Hyatt, Park Hyatt and Andaz.
Earns most from fees for managing and franchising hotels others own, plus a cut of loyalty-program spending through co-branded credit cards, so it needs little capital of its own. Buying Apple Leisure Group in 2021 added all-inclusive resorts and a vacation seller. The Pritzker family keeps control through high-vote Class B shares.
Moat: narrow (brand, scale). Strong upscale/luxury brand positioning though smaller room count than Marriott/Hilton limits scale.
Headquarters: Chicago, Illinois, US · Founded: 1957 · Employees: 50,000
Size Hyatt Hotels (H) is a United States Consumer Discretionary company (Hotels/Resorts/Cruise lines) with a market value of $17.2B, the 543rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $184.32 on 6 Nov 2026.
Performance Over six months the shares gained 10.0%, against +11.9% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 17 in its peer set.
Growth Revenue grew 2.8% over the last twelve months (peer median +4.0%); the operating margin is 8.7% (peer median 21.1%).
Valuation It trades at 42.4× forward earnings against a peer median of 18.4× (3rd most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +28%, so the hurdle is +0 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.2 points below its cost of capital (10.4% WACC).
Backlog Backlog (remaining performance obligations) was $135M at 30 Sep 2026, up 4% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Credit Hyatt Hotels has 10 bonds outstanding ($4.24B), rated BBB- by the agencies and trading like BBB at a weighted spread of 92 bp.
Short interest Short interest is 13.7% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $7.16B | $7.15B | $6.70B | $6.72B | $5.82B |
| Revenue growth | — | +7% | 0% | +16% | — |
| Gross profit | $1.18B | $1.13B | $1.01B | $975M | $787M |
| EBITDA | $926M | $886M | $801M | $799M | $712M |
| Net income | $186M | -$52.0M | $1.30B | $220M | $455M |
| Free cash flow | $234M | $159M | $466M | $599M | $473M |
| Capital expenditure | $144M | $220M | $170M | $198M | $201M |
| Total debt | $4.65B | $4.56B | $4.06B | $3.37B | $3.45B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hyatt Hotels H | $17.2B | +10% | +3% | 9% | 42.4× | 27.9% |
| Marriott International MAR | $107B | +18% | +6% | 16% | 32.1× | 17.9% |
| Hilton Worldwide HLT | n/a | +17% | n/a | n/a | n/a | n/a |
| InterContinental Hotels Group PLC Sponsored ADR IHG | $25.3B | +19% | +3% | 24% | 23.8× | 12.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | H | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.6% | +13.3% | 7th highest of 17 |
| 6-month return | +10.0% | +11.9% | 8th lowest of 17 |
| Distance from 52-week high | -10.9% | -11.4% | 9th highest of 17 |
| Revenue growth (TTM) | +2.8% | +4.0% | 8th lowest of 17 |
| Operating margin | 8.7% | 21.1% | 2nd lowest of 17 |
| Forward P/E | 42.4× | 18.4× | 3rd most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 27.9% | 9.7% | 2nd most demanding of 14 |
| Growth delivered (Del g) | +27.7% | +19.1% | 6th highest of 14 |
| Hurdle (Req g minus delivered) | +0.2 pp | -8.0 pp | 3rd most demanding of 14 |
| ROIC minus cost of capital | -4.2 pp | -0.1 pp | 2nd lowest of 16 |
| EV / EBITDA | 23.4× | 13.5× | 2nd most expensive of 16 |
| Net debt / EBITDA | 4.5× | 4.0× | 6th most indebted of 17 |
| Bond spread | 92 bp | 159 bp | tightest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hyatt Hotels H | United States | $17.2B | +10% | +3% | 9% | 42.4× | 27.9% | +27.7% |
| H World 1179.HK | Hong Kong | $15.3B | +3% | +13% | 27% | 18.8× | 6.2% | +19.1% |
| Indian Hotels INDHOTEL.NS | India | $13.4B | +33% | +15% | 26% | 55.6× | 42.0% | +43.8% |
| Accor AC.PA | France | $12.8B | +12% | 0% | 16% | 22.9× | 14.4% | +28.3% |
| InterContinental Hotels Group PLC Sponsored ADR IHG | United States | $25.3B | +19% | +3% | 24% | 23.8× | 12.7% | +16.6% |
| Hanjinkal 180640.KS | South Korea | $9.60B | +74% | +7% | 1% | 43.3× | n/a | n/a |
| Norwegian Cruise Line NCLH | United States | $8.23B | +5% | +5% | 14% | 13.8× | n/a | n/a |
| Viking VIK | United States | $39.1B | +6% | +20% | 23% | 24.4× | 19.2% | +27.0% |
| Carnival CCL | United States | $39.8B | +13% | +5% | 16% | 12.4× | 14.5% | +36.6% |
| Whitbread WTB.L | United Kingdom | $6.37B | +25% | +2% | 21% | 15.8× | 9.7% | +37.7% |
| Seibu 9024.T | Japan | $6.11B | +2% | -41% | 10% | 29.6× | n/a | n/a |
| Vail Resorts MTN | United States | $5.66B | +26% | -4% | 16% | 27.9× | 9.6% | +8.2% |
| Wyndham Hotels & Resorts WH | United States | $5.64B | -6% | +1% | 37% | 15.2× | 1.8% | +1.8% |
| Choice Hotels International CHH | United States | $5.29B | +12% | +2% | 25% | 15.8× | 4.8% | +15.6% |
| Red Rock Resorts RRR | United States | $5.06B | -11% | +1% | 23% | 17.9× | 13.3% | +11.2% |
| Atour Lifestyle Holdings Ltd. Sponsored ADR ATAT | United States | $4.82B | -6% | +45% | 21% | 15.8× | 1.8% | +43.1% |
| Travel + Leisure TNL | United States | $4.54B | +15% | +5% | 17% | 8.8× | 3.2% | +11.2% |
Hyatt Hotels has 10 bonds outstanding with $4.24B face value. The agencies rate it BBB-; its bonds trade like BBB. Weighted yield 5.50%, a spread of 92 bp over government bonds.
Hyatt Hotels reported $135M of remaining performance obligations at 30 Sep 2026, up 4% from a year earlier and flat from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.