Stock Monitor: Park Hotels & Resorts Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free earnings report on Hyatt Hotels Corp. (NYSE: H) ("Hyatt"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=H. The Company reported its financial results on February 14, 2018, for the fourth quarter and for the full fiscal year ended December 31, 2017. The Company's fourth quarter 2017 results reflect a strong finish to 2017, wherein it exceeded analysts' expectations for revenues and earnings per share (EPS). Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Park Hotels & Resorts Inc. (NYSE: PK), which also belongs to the Services sector as the Company Hyatt Hotels. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=PK

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Hyatt Hotels most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=H

Earnings Highlights and Summary

Hyatt's total revenues reached $1.18 billion in Q4 FY17, up 8.92% from $1.09 billion in Q4 FY16, due to higher management and franchise fees, which were partially offset by a lower contribution from owned and leased hotels. Hyatt's comparable systemwide revenue per available room (RevPAR) increased 3.8% in Q4 FY17, including an increase of 4.1% at comparable owned and leased hotels. The Company's total revenue numbers exceeded analysts' consensus estimates of $1.11 billion.

During Q4 FY17, Hyatt's direct and selling, general, and administrative expenses (SG&A) were $1.12 billion, up 9.44% from $1.03 billion in Q4 FY16. Hyatt's net income attributable to common shareholders was $76 million in the reported quarter, an increase of 85.37% from $41 million in the year ago same quarter. The Company's diluted net income per share attributable to common shareholders was $0.62 in Q4 FY17, an increase of 100% from $0.31 in Q4 FY16. Hyatt's reported income for Q4 FY17 included a gain of $217 million from the sale of Avendra, LLC, and an incremental tax of $110 million attributable to the recent US tax reform, as well as some other special items. The Company's diluted EPS, after adjusting for non-recurring items, were $0.23 in Q4 FY17, 20.69% lower than $0.29 in Q4 FY16. Hyatt's adjusted EPS were higher than analysts' consensus estimates of $0.19. The Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA), excluding special items, were $179 million in Q4 FY17, 4.07% higher than $172 million in Q4 FY16.

For the full fiscal year ended December 31, 2017, Hyatt's total revenues were $4.69 billion, up 5.78% from $4.43 billion in FY16. The Company's comparable systemwide RevPAR increased 3.3% in FY17, including an increase of 0.9% at comparable owned and leased hotels. The Company opened a record 71 hotels during 2017 compared to 59 hotels in 2016. Hyatt's net income attributable to common shareholders was $249 million in FY17 compared to $204 million in FY16, reflecting an increase of 22.06%. The Company's diluted EPS attributable to common shareholders were $1.97 in the reported year, up 29.61% from $1.52 in the previous year. The Company's adjusted diluted EPS, excluding special items, were $1.78 in FY17, up 7.88% from $1.65 in FY16. Hyatt's adjusted EBITDA, excluding special items, increased 3.95% to $816 million in Q4 FY17 from $785 million in Q4 FY16.

Segment Details

During Q4 2017, Hyatt's Owned and Leased Hotels segment reported net revenues of $512 million, a decrease of 2.48% from Q4 FY16. The segment's adjusted EBITDA fell 7.76% to $107 million in the reported quarter from $116 million in the year ago comparable quarter. The decrease in adjusted EBITDA was primarily driven by transaction activities, partially offset by benefits related to the timing of the Jewish holiday.

For Q4 FY17, Hyatt's America's Management and Franchising segment's net revenues advanced 5.56% to $95 million on a y-o-y basis. The segment had an adjusted EBITDA of $81 million in Q4 FY17, up 6.58% from $76 million in Q4 FY16.

Hyatt's ASPAC (Southeast Asia, Greater China, Australia, South Korea, Japan, and Micronesia) Management and Franchising segment generated net revenues of $33 million in Q4 FY17, an increase of 13.79% from the previous year's corresponding quarter. The segment's adjusted EBITDA jumped 15.79% to $22 million in Q4 FY17 from $19 million in Q4 FY16.

Hyatt's EAME/SW Asia (Europe, Africa, Middle-East, and Southwest Asia) Management and Franchising segment's net revenues were $21 million in the quarter ended December 31, 2017, up 16.67% from the year ago same quarter. The segment had an adjusted EBITDA of $12 million in Q4 FY17 compared to $9 million in Q4 FY16, reflecting an increase of 33.33%.

Cash Matters

As on December 31, 2017, Hyatt had cash and cash equivalents, including investments in highly-rated money market funds and similar investments, of $503 million. The Company's short-term investments balance was $49 million, with a restricted cash balance of $234 million.

At the end of FY17, Hyatt had a total debt of $1.5 billion, with a pro-rata share of unconsolidated hospitality venture debt of $580 million. The Company had an undrawn borrowing availability of $1.5 billion under its revolving credit facility as on December 31, 2017.

The Company repurchased 12,186,308 shares of its common stock for $723 million in 2017 compared to 5,631,557 shares for $272 million in 2016.

Outlook

For the full fiscal year 2018, Hyatt expects net income to be between $176 million and $215 million, and adjusted EBITDA to be between $805 million and $825 million. In FY18, the Company expects its comparable systemwide RevPAR to increase approximately 1% to 3% from FY17. Hyatt expects to return at least $300 million to shareholders through a combination of cash dividends on its common stock and share repurchases in FY18.

Stock Performance Snapshot

March 22, 2018 - At Thursday's closing bell, Hyatt Hotels' stock fell 2.22%, ending the trading session at $78.24.

Volume traded for the day: 533.08 thousand shares.

Stock performance in the last three-month ? up 9.17%; previous six-month period ? up 28.30%; past twelve-month period ? up 48.60%; and year-to-date ? up 6.39%

After yesterday's close, Hyatt Hotels' market cap was at $9.40 billion.

Price to Earnings (P/E) ratio was at 26.51.

The stock has a dividend yield of 0.77%.

The stock is part of the Services sector, categorized under the Lodging industry.

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