Hyatt Q4 RevPAR Jumped 7.5%
Thursday February 14th, 2013 - 8:25AM
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CHICAGO–Hyatt Hotels Corp. fourth quarter 2012 owned and leased hotel RevPAR increased 7.5%, compared to the same period in 2011.
Hyatt attributed the strong performance to solid demand and, to a lesser degree, to property renovations completed in prior periods.
Six hotels opened during the quarter, including an Andaz in Amsterdam and Hyatt's first two select-service hotels outside of the United States.
Hyatt expects to open more than 30 hotels in 2013, including four conversions in France.
Tags: Hospitality Quarterly Results
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.