(TAN): Hyatt Hotels Corporation has reported a net loss of USD 304 million, or USD 2.99 per diluted share, in Q1 2021. The group posted net loss of USD 103 million, or USD 1.02 per diluted share, in the same period last year.
Adjusted net loss attributable to Hyatt was USD 363 million, or USD 3.57 per diluted share, in the first quarter of 2021, compared to adjusted net loss attributable to Hyatt of USD 35 million, or USD 0.35 per diluted share, in Q1 2020.
Mark S. Hoplamazian, president and CEO of Hyatt Hotels Corporation, said, “First quarter results exceeded expectations as demand improved meaningfully over the course of the quarter. The expansion of vaccine distribution and the easing of travel restrictions in certain markets fueled improved confidence in travel in many of the markets in which we operate. We also reported strong net rooms growth of 6.5%, reaching an important milestone with the opening of our 1,000th hotel in the quarter.”
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“While risks do remain in the management of the pandemic, we are optimistic about continued growth of demand in the coming months and the balance of 2021. The demand levels we saw in March have continued through April. While leisure travel continues to lead the recovery, we are encouraged by positive indicators across other travel segments as well,” Hoplamazian said.
