Hyatt Hotels Corporation reported a $236 million loss in its second quarter earnings call.
Second quarter 2020 highlights as compared to the second quarter of 2019 are as follows:
Net income (loss) decreased 376 percent to a net loss of $236 million
Adjusted EBITDA decreased 154.6 percent to $117 million
Cash and cash equivalents of $1,438 million
Comparable system-wide RevPAR decreased 89.4 percent
Net rooms growth of 5.8 percent
Pipeline of executed management or franchise contracts for approximately 101,000 rooms, an increase of approximately 9.8 percent compared to the second quarter 2019
“The second quarter was challenging but in line with what we expected. We do believe the worst is behind us and we’re seeing positive signs developing around the world with some clear pockets of strength. The recovery, especially as it relates to business travel here in the U.S., will continue to be challenging,â
