CHICAGO - Hyatt Hotels Corporation ('Hyatt' or the 'Company') (NYSE: H) today reported first-quarter 2020 financial results. Net loss attributable to Hyatt was $103 million, or $1.02 per diluted share, in the first quarter of 2020, compared to net income attributable to Hyatt of $63 million, or $0.59 per diluted share, in the first quarter of 2019. Adjusted net loss attributable to Hyatt was $35 million, or $0.35 per diluted share, in the first quarter of 2020, compared to Adjusted net income attributable to Hyatt of $48 million, or $0.45 per diluted share, in the first quarter of 2019. Refer to the table on page 13 of the schedules for a summary of special items impacting Adjusted net income (loss) and Adjusted earnings (losses) per share in the three months ended March 31, 2020.
First quarter of 2020 financial highlights as compared to the first quarter of 2019 are as follows:
Net income (loss) decreased 262.8% to a net loss of $103 million.
Adjusted EBITDA decreased 54.3% to $86 million, a decrease of 53.9% in constant currency.
Comparable system-wide RevPAR decreased 28.1%, including a decrease of 25.8% at comparable owned and leased hotels.
Comparable U.S. hotel RevPAR decreased 24.5%; full service hotel RevPAR decreased 25.2% and select service hotel RevPAR decreased 23.0%.
Net rooms growth was 6.3% in the first quarter of 2020.
Comparable owned and leased hotels operating margin decreased 1,060 basis points to 14.5%.
Adjusted EBITDA margin of 18.3% decreased 1,010 basis points in constant currency.
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