Hyatt Hotels Corporation Raises 2021 Room Growth Outlook

(RTTNews) - Hyatt Hotels Corporation (H) has raised its 2021 net rooms growth outlook to about 6%, up from the prior expectation of greater than 5%.

This is followed by the amended agreement with a Hyatt affiliate and Service Properties Trust, or SVC, as per which, Hyatt will continue to manage 17 of the 22 Hyatt Place hotels owned by subsidiaries of SVC for a 10-year term, effective April 1, 2021.

The company also expects to complete the two previously announced real estate transactions as part of its ongoing capital strategy in 2021. It sees net proceeds of about $1.5 billion by March 2022 from the transactions.

Hyatt has expanded its managed and franchised property base by 18%, from March 2019 to May 2021, which the company believes, will help it to achieve an increased percentage of earnings from management and franchising activity.