Hyatt Hotels Corporation recently has reported fourth quarter and full year 2024 results, which show a net income of $1.29bn, alongside adjusted EBITDA of $1.096bn for the full year. In 2024, the company returned over $1.2bn to shareholders through dividends and share repurchases.
Highlights for the full year include the acquisition of Standard International including The Standard and Bunkhouse Hotels brands, as well as a long-term, asset-light strategic joint venture with Grupo Piñero. Hyatt has also reported a pipeline of approximately 138,000 rooms anticipated to open globally.
The company reported its World of Hyatt loyalty programme had reached 54 million members and also shared with CMW the fact that, in Q4 2024, Hyatt saw a 5% increase, compared to Q4 2023, in MICE inquiries in Europe, with UK properties accounting for more than 7,000 of these. The company told CMW its data illustrates how business travel has been key in fuelling Hyatt’s growth in the UK, and that Hyatt now plans to grow its UK portfolio by more than 30% between 2025 and 2026.
That process was kicked off by the announcement of Hyatt Place Leeds and Hyatt House Leeds opening their doors earlier in March. The 217-room Hyatt Place Leeds and the 88-room Hyatt House Leeds have shared meeting spaces, a Azotea rooftop bar and Zoom restaurant.
The expansion of the UK portfolio is set to bring 1,000 rooms to the market, including the recent openings in Leeds. Upcoming openings include Hyatt Place London Paddington and Hyatt Regency London Olympia, which are anticipated to create around 250 new UK jobs over the next two years.
The Hyatt portfolio has now grown to 17 hotels across nine distinct brands in the UK, with the opening of Park Hyatt London River Thames marking the latest debut in October 2024.
For further information on Hyatt hotels and new openings across the globe, visit www.hyatt.com. Read our previous article on Hyatt’s plans to simplify brand structure
