Hyatt cut its quarterly loss by 7 times

US luxury hotel chain operator Hyatt Hotels Corporation ended the fourth quarter with a net loss of $29 million. Compared to October-December 2020, its size decreased by 86%. An adjusted loss per share of $2.78 was well above economists’ prognosis of $0.17. After the disclosure period, revenue was recorded at $1.08 bln., up from $424 mln. a year ago. This figure confirmed market expectations. A strong economic recovery from the coronavirus pandemic negative impact is helping to increase demand for hotel services, which have become especially in demand among the richest clients. The company expects further growth in demand and, consequently, an improvement in its financial performance. The market value of Hyatt Hotels Corporation has increased by 26.6% over the past three months.

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Arseny Kudrin

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