Hyatt Hotels Corporation reported second quarter 2015 financial results. Adjusted EBITDA was $210 million compared to $231 million in the second quarter of 2014, a decrease of 9.1%.
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Adjusted EBITDA in the second quarter of 2015 was negatively impacted by $25 million due to net dispositions and $8 million due to net unfavorable currency impacts, compared to the second quarter of 2014.
Adjusted for special items, net income attributable to Hyatt was $41 million, or $0.28 per share, during the second quarter of 2015 compared to net income attributable to Hyatt of $72 million, or $0.47 per share, during the second quarter of 2014.
Net income attributable to Hyatt was $40 million, or $0.27 per share, during the second quarter of 2015 compared to net income attributable to Hyatt of $74 million, or $0.48 per share, in the second quarter of 2014.
Comparable owned and leased hotels RevPAR increased 1.5% (4.8% excluding the effect of currency) in the second quarter of 2015 compared to the second quarter of 2014.
Comparable owned and leased hotels operating margins increased 120 basis points in the second quarter of 2015 compared to the second quarter of 2014. Owned and leased hotels operating margins increased 20 basis points in the second quarter of 2015 compared to the second quarter of 2014.
Comparable systemwide RevPAR increased 2.2% (5.6% excluding the effect of currency) in the second quarter of 2015 compared to the second quarter of 2014.
Comparable U.S. full service hotel RevPAR increased 7.5% in the second quarter of 2015 compared to the second quarter of 2014. Comparable U.S. select service hotel RevPAR increased 7.2% in the second quarter of 2015 compared to the second quarter of 2014.
Nineteen hotels were opened during the second quarter of 2015 - the most organic growth in any single quarter since Hyatt's IPO in 2009. The new hotels were opened across six brands, including the first two Hyatt Centric-branded hotels, and represent entry into eight new markets.
The Company repurchased 2,686,374 shares of common stock at a weighted average price of $58.42 per share, for an aggregate purchase price of approximately $157 million.
On July 30, 2015, the Company's board of directors authorized the repurchase of up to an additional $400 million of common stock. The authorization applies to the repurchase of Class A and/or Class B shares. ■