Hyatt Hotels Corporation · H · FY2026 Q1 · Calendar Q2 2026
Hyatt raises RevPAR and fee outlook as loyalty and pipeline support growth
Hyatt’s Q1 results and raised RevPAR and gross-fee outlook support a growth narrative driven by premium demand, loyalty engagement, and expansion of its fee-based hotel network. The thesis depends on growth offsetting regional travel pressures and execution risks in asset sales.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Management raised its full-year U.S. RevPAR outlook to 2–3% and gross-fee outlook to $1.305–$1.335 billion, representing 9–11% growth. It maintained EBITDA and free-cash-flow guidance. Q1 system-wide RevPAR increased 5.4%; World of Hyatt membership grew 18% to 66 million, and the development pipeline reached approximately 151,000 rooms.
Guidance delta
Raised U.S. RevPAR guidance to 2–3% and gross fees to $1.305–$1.335 billion (9–11% growth). EBITDA growth guidance of 13–18% and free-cash-flow growth guidance of 20–30% were maintained.
Key takeaways
- Q1 system-wide RevPAR rose 5.4%, with 3.3% growth in the U.S. and more than 8% internationally.
- World of Hyatt membership increased 18% to 66 million; members accounted for nearly half of occupied rooms and generated about twice the spend of non-members.
- The development pipeline reached a record approximately 151,000 rooms, up more than 9% year over year.
- Management raised U.S. RevPAR and gross-fee guidance but maintained EBITDA and free-cash-flow guidance.
- Management expects distribution-segment pressures to ease in the second half, while identifying regional conditions as a near-term headwind.
Management priorities
- Grow fee-based earnings through net-room additions, brand expansion, and conversion of owned hotels to fee-based contracts.
- Expand the Essentials and lifestyle hotel portfolios and open planned properties.
- Build loyalty engagement and experiential offerings through World of Hyatt.
- Advance enterprise AI and technology initiatives for revenue management and operational efficiency.
- Pursue asset sales and portfolio clean-up, including Hyatt Grand Central New York.
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Analyst 52W Price Targets
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 1, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Macquarie | Outperform | Outperform | Maintain | Oct 30, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 30, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 30, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 22, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Oct 19, 2026 |
| Susquehanna | Neutral | Neutral | Maintain | Oct 13, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Oct 8, 2026 |
| Truist Securities | Buy | Buy | Maintain | Sep 10, 2026 |
| Baird | Neutral | Neutral | Maintain | Aug 3, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Jul 21, 2026 |
| Bernstein | Outperform | Outperform | Maintain | May 15, 2026 |
| Citigroup | Buy | Buy | Maintain | Feb 18, 2026 |
| Stifel | Hold | Hold | Maintain | Dec 31, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Nov 7, 2025 |
| Raymond James | Strong Buy | Market Perform | Upgrade | Jul 1, 2025 |
| Goldman Sachs | Sell | Sell | Maintain | May 2, 2025 |
| Jefferies | Hold | Hold | Maintain | Apr 9, 2025 |
| HSBC | Hold | Buy | Downgrade | Nov 1, 2024 |
| B of A Securities | Buy | Buy | Maintain | Oct 21, 2024 |
| TD Cowen | Market Perform | Market Perform | Maintain | Mar 21, 2024 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Feb 14, 2024 |
| Redburn Atlantic | Neutral | Buy | Downgrade | Jan 16, 2024 |
| Redburn Partners | Buy | Buy | Maintain | Nov 30, 2022 |
| Berenberg | Buy | Hold | Upgrade | Sep 15, 2022 |
| Loop Capital | Hold | Hold | Maintain | Oct 6, 2021 |
| Longbow Research | Neutral | Buy | Downgrade | Dec 22, 2020 |
| Gordon Haskett | Hold | Underperform | Upgrade | Nov 25, 2020 |
| UBS | Sell | Sell | Maintain | Jun 5, 2020 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Apr 29, 2020 |
| Stifel Nicolaus | Hold | Hold | Maintain | Dec 19, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Jan 7, 2019 |
| B. Riley Securities | Neutral | Neutral | Maintain | Nov 1, 2018 |
| B. Riley FBR | Neutral | Neutral | Maintain | Nov 1, 2018 |
| Nomura | Neutral | Neutral | Maintain | Oct 31, 2018 |
| Cowen & Co. | Perform | Market Perform | Maintain | Oct 23, 2018 |
| MKM Partners | Buy | Neutral | Upgrade | Dec 7, 2017 |
| B. Riley | Neutral | Buy | Downgrade | Nov 6, 2017 |
| Guggenheim | Neutral | Neutral | Maintain | Apr 26, 2017 |
| CLSA | Underperform | Outperform | Downgrade | Nov 2, 2016 |
| Wolfe Research | Underperform | Underperform | Maintain | Jul 6, 2016 |
| Telsey Advisory Group | Perform | Market Perform | Maintain | Jan 4, 2016 |
| Brean Capital | Buy | Buy | Maintain | Jun 18, 2015 |
| Credit Suisse | Underperform | Neutral | Downgrade | Aug 1, 2014 |
| FBR Capital | Outperform | Outperform | Maintain | May 1, 2014 |
| ISI Group | Buy | Neutral | Upgrade | Oct 14, 2013 |
| Evercore Partners | Equal Weight | Equal Weight | Maintain | May 29, 2013 |
| Cantor Fitzgerald | Hold | Hold | Maintain | Feb 14, 2013 |
| BMO Capital | Outperform | Outperform | Maintain | Jan 15, 2013 |
| Credit Agricole | Buy | Buy | Maintain | Nov 27, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $180.57. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Lizzie Dove | $215 | $184.3 | +19.1% | Oct 30, 2026 |
| Wells Fargo | Analyst unavailable | $189 | $169.13 | +4.7% | Oct 19, 2026 |
| Barclays | Analyst unavailable | $202 | $168.91 | +11.9% | Oct 16, 2026 |
| Morgan Stanley | Analyst unavailable | $211 | $161.94 | +16.9% | Oct 12, 2026 |
| Mizuho Securities | Ben Chaiken | $222 | $157.14 | +22.9% | Oct 8, 2026 |
| Truist Financial | Patrick Scholes | $198 | $161.27 | +9.7% | Sep 10, 2026 |
| Wolfe Research | Analyst unavailable | $203 | $162.55 | +12.4% | Sep 2, 2026 |
| Morgan Stanley | Analyst unavailable | $209 | $179.5 | +15.7% | Aug 18, 2026 |
| Robert W. Baird | Analyst unavailable | $191 | $174.06 | +5.8% | Aug 3, 2026 |
| Deutsche Bank | Steven Pizzella | $205 | $172.07 | +13.5% | Jul 31, 2026 |
| Barclays | Brandt Montour | $201 | $176.68 | +11.3% | Jul 31, 2026 |
| Barclays | Analyst unavailable | $220 | $190.65 | +21.8% | Jul 20, 2026 |
| Wells Fargo | Analyst unavailable | $186 | $191 | +3.0% | Jul 16, 2026 |
| HSBC | Analyst unavailable | $212 | $189.16 | +17.4% | Jun 4, 2026 |
| Morgan Stanley | Analyst unavailable | $208 | $182.17 | +15.2% | Jun 1, 2026 |
| Robert W. Baird | Analyst unavailable | $185 | $181.36 | +2.5% | Jun 1, 2026 |
| Wells Fargo | Trey Bowers | $182 | $181.36 | +0.8% | Jun 1, 2026 |
| Stifel Nicolaus | Simon Yarmak | $182 | $185.46 | +0.8% | May 29, 2026 |
| Mizuho Securities | Ben Chaiken | $221 | $185.46 | +22.4% | May 29, 2026 |
| Bernstein | Analyst unavailable | $202 | $169.98 | +11.9% | May 15, 2026 |
| Susquehanna | Analyst unavailable | $180 | $163.73 | -0.3% | May 4, 2026 |
| Mizuho Securities | Analyst unavailable | $219 | $169.02 | +21.3% | May 1, 2026 |
| Stifel Nicolaus | Analyst unavailable | $171 | $169.64 | -5.3% | Apr 30, 2026 |
| Evercore ISI | Duane Pfennigwerth | $180 | $163.9 | -0.3% | Apr 24, 2026 |
| Susquehanna | Christopher Stathoulopoulos | $185 | $165.44 | +2.5% | Apr 23, 2026 |
| Barclays | Brandt Montour | $197 | $163.46 | +9.1% | Apr 16, 2026 |
| Morgan Stanley | Analyst unavailable | $195 | $155.67 | +8.0% | Apr 10, 2026 |
| Robert W. Baird | Michael Bellisario | $182 | $168.38 | +0.8% | Feb 19, 2026 |
| Deutsche Bank | Analyst unavailable | $192 | $167.21 | +6.3% | Feb 13, 2026 |
| Mizuho Securities | Ben Chaiken | $224 | $169.07 | +24.1% | Feb 13, 2026 |
| Stifel Nicolaus | Analyst unavailable | $170 | $170.3 | -5.9% | Feb 12, 2026 |
| Evercore ISI | Analyst unavailable | $175 | $163.75 | -3.1% | Jan 22, 2026 |
| Morgan Stanley | Analyst unavailable | $194 | $169.71 | +7.4% | Jan 16, 2026 |
| Barclays | Analyst unavailable | $198 | $169.71 | +9.7% | Jan 16, 2026 |
| Goldman Sachs | Lizzie Dove | $198 | $168.55 | +9.7% | Jan 14, 2026 |
| Mizuho Securities | Ben Chaiken | $223 | $165.27 | +23.5% | Jan 13, 2026 |
| Bernstein | Analyst unavailable | $189 | $163.64 | +4.7% | Jan 6, 2026 |
| Bernstein | Richard Clarke | $188 | $162.87 | +4.1% | Jan 2, 2026 |
| Stifel Nicolaus | Analyst unavailable | $164 | $160.98 | -9.2% | Dec 31, 2025 |
| Barclays | Brandt Montour | $200 | $162.69 | +10.8% | Dec 17, 2025 |
| Robert W. Baird | Analyst unavailable | $156 | $151.88 | -13.6% | Nov 20, 2025 |
| Robert W. Baird | Analyst unavailable | $154 | $147.9 | -14.7% | Oct 21, 2025 |
| Bernstein | Analyst unavailable | $177 | $141.03 | -2.0% | Sep 17, 2025 |
| Truist Financial | Patrick Scholes | $159 | $144.14 | -11.9% | Sep 3, 2025 |
| Melius Research | Analyst unavailable | $150 | $104.22 | -16.9% | Apr 21, 2025 |
| Goldman Sachs | Lizzie Dove | $110 | $109.07 | -39.1% | Apr 14, 2025 |
| Truist Financial | Patrick Scholes | $163 | $142.75 | -9.7% | Feb 18, 2025 |
| Jefferies | David Katz | $176 | $156.31 | -2.5% | Jan 2, 2025 |
| Wells Fargo | Daniel Politzer | $178 | $152.18 | -1.4% | Oct 22, 2024 |
| Bank of America Securities | Shaun Kelley | $175 | $152.64 | -3.1% | Oct 21, 2024 |
| CFRA | Garrett Nelson | $155 | $152.61 | -14.2% | Oct 17, 2024 |
| Robert W. Baird | Michael Bellisario | $157 | $153.52 | -13.1% | Oct 17, 2024 |
| Truist Financial | Patrick Scholes | $169 | $154.91 | -6.4% | Oct 14, 2024 |
| Robert W. Baird | Michael Bellisario | $158 | $151.59 | -12.5% | Sep 24, 2024 |
| Goldman Sachs | Lizzie Dove | $151 | $148.38 | -16.4% | Sep 18, 2024 |
| Citigroup | Michael Bilerman | $165 | $149.13 | -8.6% | Sep 3, 2024 |
| Jefferies | David Katz | $152 | $147.54 | -15.8% | Aug 28, 2024 |
| Truist Financial | Patrick Scholes | $164 | $135.14 | -9.2% | Aug 12, 2024 |
| Barclays | Brandt Montour | $146 | $132.02 | -19.1% | Aug 7, 2024 |
| Stifel Nicolaus | Simon Yarmak | $141 | $132.02 | -21.9% | Aug 6, 2024 |
| Truist Financial | Patrick Scholes | $168 | $144.99 | -7.0% | May 30, 2024 |
| Robert W. Baird | Michael Bellisario | $162 | $148.88 | -10.3% | May 17, 2024 |
| Mizuho Securities | Ben Chaiken | $204 | $150.47 | +13.0% | May 15, 2024 |
| Mizuho Securities | Ben Chaiken | $195 | $146.58 | +8.0% | Apr 23, 2024 |
| Stifel Nicolaus | Antonio Riverwalk | $154 | $155.89 | -14.7% | Apr 11, 2024 |
| Mizuho Securities | Ben Chaiken | $197 | $157.85 | +9.1% | Mar 25, 2024 |
| Morgan Stanley | Stephen W Grambling | $139 | $110.31 | -23.0% | Mar 14, 2023 |
| Truist Financial | Patrick Scholes | $145 | $112.57 | -19.7% | Feb 21, 2023 |
| Morgan Stanley | Analyst unavailable | $136 | $98.82 | -24.7% | Dec 5, 2022 |
| Jefferies | David Katz | $93 | $80.65 | -48.5% | May 23, 2022 |
| Berenberg Bank | Stuart Gordon | $85 | $83.6 | -52.9% | May 16, 2022 |
| Credit Suisse | Benjamin Chalken | $84 | $81.41 | -53.5% | May 12, 2022 |
| Deutsche Bank | Carlo Santarelli | $94 | $84.84 | -47.9% | May 11, 2022 |
| Morgan Stanley | Analyst unavailable | $97 | $94.01 | -46.3% | May 2, 2022 |
| Wells Fargo | Dori Kesten | $111 | $98.97 | -38.5% | Feb 26, 2022 |
| Jefferies | David Katz | $99 | $89.65 | -45.2% | Jan 30, 2022 |
| Macquarie | Chad Beynon | $110 | $87.01 | -39.1% | Jan 23, 2022 |
| Evercore ISI | Richard Hightower | $100 | $89.85 | -44.6% | Jan 18, 2022 |
| Bank of America Securities | Shaun Kelley | $110 | $95.01 | -39.1% | Jan 10, 2022 |
| Cowen & Co. | Kevin Kopelman | $95 | $95.7 | -47.4% | Dec 27, 2021 |
| Bernstein | Richard Clarke | $105 | $82.63 | -41.9% | Dec 13, 2021 |
| Loop Capital Markets | Daniel Adam | $94 | $83.3 | -47.9% | Dec 2, 2021 |
| Goldman Sachs | Stephen Grambling | $105 | $82.63 | -41.9% | Jun 17, 2021 |
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Start freeCompany context
Snapshot as of publicationHyatt Hotels Corporation functions as an international hospitality firm, managing a diverse portfolio of properties across the United States and numerous global markets. Its operational structure encompasses Owned and Leased Hotels, along with regional management and franchising divisions for the Americas, Asia-Pacific (ASPAC), and Europe, Africa, Middle East, and Southwest Asia (EAME/SW Asia), complemented by the Apple Leisure Group. The company actively manages, franchises, licenses, owns, and leases an extensive array of accommodations, ranging from full-service and select-service hotels to resorts, timeshares, fractional ownerships, residential, vacation, and condominium units.…
Historical context
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-01T20:10:41.623124+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-01T20:10:41.620346+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-01. For educational purposes only; not investment advice.