Hyatt Hotels has posted a strong profit recovery for the third quarter of this year; posting net income of $68m for the three months to the end of September.
That figure was up from $28m for the corresponding period last year.
The global hotel group said it finished the quarter with a pipeline of 123,000 bedrooms.
Mark S. Hoplamazian, President and Chief Executive of Hyatt, said: “We had a tremendous quarter, largely driven by the strength in our core business. Our third quarter performance contributed to a 25% improvement in total fees for the first nine months of the year compared to 2022.”
“We expect strong fee growth to continue, fuelled by our record pipeline of 123,000 rooms and higher levels of conversion opportunities combined with robust demand for travel around the globe. We continue to successfully execute our asset-light transformation and growth strategy while returning meaningful capital to shareholders.”
