Hyatt Hotels Corp Q3 2024 10-Q Filing

TL;DR

Hyatt's Q3 10-Q is in: check out the latest on management & franchise fees for 2024 vs 2023.

AI Summary

Hyatt Hotels Corp filed its 10-Q for the period ending September 30, 2024. The filing details financial performance, including base management fees, incentive management fees, and franchise and other fees for the third quarter and the first nine months of 2024 compared to 2023. Specific dollar amounts for these revenue streams are provided within the document.

Why It Matters

This filing provides investors with a detailed look at Hyatt's revenue streams and financial health for the most recent quarter, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not indicate any unusual or elevated risks.

Key Numbers

• N/A — Base Management Fees (Financial data for Q3 and YTD 2024 vs 2023)
• N/A — Incentive Management Fees (Financial data for Q3 and YTD 2024 vs 2023)
• N/A — Franchise and Other Fees (Financial data for Q3 and YTD 2024 vs 2023)

Key Players & Entities

• Hyatt Hotels Corp (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-10-31 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 par value H New York Stock Exchange I

Filing Documents

• h-20240930.htm (10-Q) — 2865KB
• exhibit31-93024.htm (EX-3.1) — 558KB
• exhibit311-93024.htm (EX-31.1) — 11KB
• exhibit312-93024.htm (EX-31.2) — 11KB
• exhibit321-93024.htm (EX-32.1) — 6KB
• exhibit322-93024.htm (EX-32.2) — 5KB
• 0001468174-24-000107.txt ( ) — 15094KB
• h-20240930.xsd (EX-101.SCH) — 92KB
• h-20240930_cal.xml (EX-101.CAL) — 106KB
• h-20240930_def.xml (EX-101.DEF) — 478KB
• h-20240930_lab.xml (EX-101.LAB) — 998KB
• h-20240930_pre.xml (EX-101.PRE) — 742KB
• h-20240930_htm.xml (XML) — 2773KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 1

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 37

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 60

Controls and Procedures

Item 4. Controls and Procedures 60

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 61

Risk Factors

Item 1A. Risk Factors 61

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 61

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 61

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 61

Other Information

Item 5. Other Information 61

Exhibits

Item 6. Exhibits 63

Signatures

Signatures 64 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. HYATT HOTELS CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In millions of dollars, except per share amounts) (Unaudited) Three Months Ended Nine Months Ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 REVENUES: Base management fees $ 97 $ 94 $ 295 $ 281 Incentive management fees 52 51 170 167 Franchise and other fees 119 98 340 272 Gross fees 268 243 805 720 Contra revenue ( 27 ) ( 12 ) ( 56 ) ( 34 ) Net fees 241 231 749 686 Owned and leased 287 329 910 984 Distribution 221 229 818 832 Other revenues 13 79 58 238 Revenues for reimbursed costs 867 754 2,511 2,267 Total revenues 1,629 1,622 5,046 5,007 DIRECT AND GENERAL AND ADMINISTRATIVE EXPENSES: General and administrative 126 122 412 411 Owned and leased 228 256 716 753 Distribution 182 185 690 669 Other direct costs 19 81 81 266 Transaction and integration costs 8 8 26 31 Depreciation and amortization 81 100 257 297 Reimbursed costs 881 764 2,570 2,302 Total direct and general and administrative expenses 1,525 1,516 4,752 4,729 Net gains (losses) and interest income from marketable securities held to fund rabbi trusts 18 ( 9 ) 46 26 Equity earnings (losses) from unconsolidated hospitality ventures ( 13 ) 7 32 4 Interest expense ( 50 ) ( 41 ) ( 128 ) ( 105 ) Gains (losses) on sales of real estate and other 514 18 1,267 18 Asset impairments ( 35 ) ( 6 ) ( 52 ) ( 13 ) Other income (loss), net 70 26 152 93 Income before income taxes 608 101 1,611 301 Provision for income taxes ( 137 ) ( 33 ) ( 259 ) ( 107 ) Net income 471 68 1,352 194 Net income attributable to noncontrolling interests — — — — Net income attributable to Hyatt Hotels Corporation $ 471 $ 68 $ 1,352 $ 194 EARNINGS PER CLASS A AND CLASS B SHARE: Net income attributable to Hyatt Hotels Corporation—Basic $ 4.75 $ 0.65 $ 13.38 $ 1.84 Net income attributable to Hyatt Hotels Corporation—Diluted $ 4.63 $ 0.63 $ 13.04 $ 1.80

View Full Filing

View this 10-Q filing on SEC EDGAR