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Chicago & Midwest  + Downtown  + Hospitality  |  November 5, 2020
Paul Bubny
By: Paul Bubny

Hyatt Hotels Narrows Losses in Q3

Hyatt Hotels Corporation reported a third-quarter net loss of $161 million, or $1.59 per diluted share, compared to a $236-million loss at the height of the travel shutdown in Q2. The Chicago-based lodging giant had reported net income of $296 million in Q3 2019.

Mark S. Hoplamazian, Hyatt’s president and CEO, said, “Third-quarter results reflect Hyatt’s ability to adapt to a continuously changing and uneven demand environment. In the third quarter, we doubled the number of room nights sold compared to the second quarter of 2020.”

He continued, “We expect demand to remain uneven over the coming months and believe the ingenuity and resilience of our teams will enable us to continue to win share and deepen our strong relationships with our loyal guests and customers. Furthermore, we believe our strong liquidity position will help to sustain our operations over time and support our long-term growth strategy.”

Pictured: Manchester Grand Hyatt in San Diego.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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