Hyatt and Wyndham Report Strong Finish to 2024, Bright Outlook for 2025

by Lacey Pfalz
Last updated: 9:00 AM ET, Thu February 13, 2025

Two hotel giants, Hyatt Hotels Corporation and Wyndham Hotels & Resorts, reported their full-year 2024 results along with sunny predictions for the year ahead for the two companies, both of whom are leveraging growth as a key factor in their successes.

2024 Success: Growth, Development and Fees

Hyatt experienced a comparable system-wide hotels RevPAR (revenue per available room, a key hotel metric) growth of 5 percent in the last quarter of 2024 and a full-year RevPAR of 4.6 percent compared with 2023. All-inclusive RevPAR grew 4.4 percent year-over-year.

Rooms have been growing as Hyatt continues its expansion: it welcomed 81 new hotels in the fourth quarter of 2024, including those brought into the portfolio by the acquisitions of Standard International and Bahia Principe.

By the end of the year, Hyatt had around 720 hotels in its development pipeline.

The full year saw a net rooms growth of 7.8 percent. Adjusted net income was $375 million, with a full-year Diluted EPS (earnings per share) of $12.65. Quarterly, shareholders lost $0.58, as Hyatt reported a net income loss of $56 million in the quarter. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter was $255 million; for the year, it was $1.096 billion.

“The purposeful evolution of our business model and strong brand focus has accelerated our network effect benefiting each of our stakeholders,” said Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt. “Our fourth quarter results demonstrate the strength of our commercial offerings, as evidenced by the growth of the World of Hyatt loyalty program, which reached approximately 54 million members. Our operating results and industry leading net rooms growth allowed us to achieve record levels of gross fees while returning over $1.2 billion to shareholders in 2024."

Wyndham saw similar success: global RevPAR grew 5 percent in the fourth quarter, matching the same growth as Hyatt. However, it reported a slower RevPAR growth for the full year, at 2 percent, with U.S. RevPAR falling flat in 2024.

Rooms growth reached 4 percent growth from 2023, with just under 70,000 new rooms added to Wyndham’s portfolio. Its development pipeline grew 5 percent from 2023, with a record number of 252,000 rooms.

Wyndham reported a net income for the year at $289 million, which didn’t change much from 2023. It did see its fourth quarter net income increase by 70 percent, though, at $85 million. Adjusted EBITDA for the year was $694 million, a 5 percent increase. The fourth quarter saw a 9 percent increase in adjusted EBITDA, at $168 million.

One thing Wyndham is banking its success in 2025 on is fee revenue, called FeePAR. Fees are also a key source of revenue for Hyatt: in its third-quarter 2024 report, Hyatt brought in $268 million in fee revenue alone.

“We’re proud to report a very strong finish to 2024 with net rooms growth of 4 percent and comparable adjusted EBITDA growth of 7 percent,” said Geoff Ballotti, President and CEO of Wyndham. “Our team’s focus on expanding into higher FeePAR markets, growing our extended-stay footprint and unlocking new ancillary revenue streams underscore the diverse growth opportunities inherent in our asset-light, resilient business model. What excites us most about our future is the developer interest in, and demand for, our brands both here and overseas, reflected in a pipeline that grew another 5 percent to a record quarter-of-a-million rooms that will open in the coming years with significant FeePAR premiums compared to our existing system…”

A Bright Outlook for 2025

Hyatt and Wyndham both predict 2025 to be a strong year for travel.

Hyatt expects full-year RevPAR to grow between 2-4 percent from 2024, with a net rooms growth of 6 to 7 percent. The hotel giant predicts to rake in a net income between $190 million and $240 million, with an Adjusted EBITDA between $1.1 billion and $1.15 billion.

Hyatt’s development also isn’t slowing down: in early February, it announced plans to purchase Playa Hotels & Resorts N.V. for $2.6 billion.

Wyndham predicts its full-year RevPAR for 2025 to grow 2-3 percent over last year, with a net rooms growth ranging between 3.6 percent and 4.6 percent, a little bit slower than Hyatt. Still, it predicts a net income between $369 and $379 million, with an Adjusted EBITDA ranging between $745 million and $755 million. Shareholders are expected to enjoy an Adjusted Diluted EPS ranging between $4.66 and $4.78 this year.

Wyndham also expected its fee-related revenue and others to be the biggest factor driving its success this year, with estimates for this type of revenue ranging between $1.49 and $1.51 billion.

For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.