Hyatt Hotels highlights record year of deal signings

Hyatt Hotels Corporation (NYSE:H) said it expects a strong growth trajectory for 2024 and beyond after seeing a record year of deal signings in 2023. The company disclosed on Friday a record pipeline of 127,000 rooms worldwide as of the end of 2023, which is expected to fuel asset-light earnings into the future. This record pipeline represents nearly 40% of existing rooms in the Hyatt portfolio.

"We have been very intentional in our growth strategy and acquisitions, always prioritizing guest, customer and owner preference as well as differentiation, and taking bold steps to stay ahead of market trends,” said CEO Mark Hoplamazian. "We believe our most exciting chapter is ahead of us, and we are committed to reinforcing our position as the preferred hospitality brand," he added.

Hyatt Hotels (H) maintains that it is uniquely positioned in the industry to be the preferred brand for the high-end guest, driven by significant expansion of luxury, resort and lifestyle hotels. Since the end of 2017, the addition of nearly 90,000 rooms in these categories was noted to represent 45% of Hyatt's total portfolio. That growth has doubled the number of luxury rooms, tripled resort rooms, and quadrupled lifestyle rooms. By the end of 2025, Hyatt plans to add more than 35 hotels globally within its diverse collection of luxury brands.

Shares of Hyatt Hotels (H) edged up 0.25% in premarket trading on Friday. Over the last 52 weeks, Hyatt is up more than 24%.