# Hyatt Hotels Corporation (H)

> Source: Nexqual · https://nexqual.com/H · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Hyatt Hotels Corporation (H), nexqual.com/H" · informational, not investment advice.

**Price:** USD 176.96 (-0.92% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 178.61 · day 175.42–178.79 · 52w 134.18–206.86 · market cap $16.7B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $7.15B, net income $79.0M (1.1% margin), free cash flow $252M (SEC filings).
- Valuation: P/E 211.1x (avg 38.1x at the last 2 fiscal year-ends), net debt $3.67B.
- 1 of 80 tracked superinvestors hold H (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Buy (mean 2.24 on a 1–5 scale) (25 analysts), mean target USD 196.44 (range 165–224).
- Total return with dividends: 1Y +19.7% vs S&P 500 +14.9%; 5Y +117.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0.76, revenue estimate $1.75B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.03B | $5.89B | $6.67B | $6.65B | $7.10B | $7.15B |
| Net income | -$222M | $455M | $220M | $1.30B | -$52.0M | $79.0M |
| EPS (diluted) | -$2.13 | $4.09 | $2.05 | $12.65 | -$0.55 | — |
| Free cash flow | $204M | $473M | $602M | $463M | $159M | $252M |
| Net margin | -7.3% | 7.7% | 3.3% | 19.5% | -0.7% | 1.1% |
| Revenue growth | +46.6% | +94.6% | +13.2% | -0.3% | +6.8% | — |
| Cash + short-term investments | $1.19B | $1.15B | $896M | $1.38B | $813M | — |
| Total debt | $4.01B | $3.13B | $3.07B | $3.78B | $4.28B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 211.1x · P/S 2.3x · EV/Sales 2.9x · P/FCF 66.2x · P/B 5.0x · FCF yield 1.51% · Earnings yield 0.47% · Dividend yield (paid, TTM) 0.34% · Buyback yield (TTM) 1.75% · Net debt $3.67B · EV $20.4B
P/E at fiscal year-ends: Dec 2024 12.4x, Dec 2023 63.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold H. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mason Hawkins | Southeastern Asset Management | 0.08% | $1.5M | Unchanged |

## Analysts
Consensus Buy (mean 2.24 on a 1–5 scale), 25 analysts; mean target USD 196.44 (low 165, high 224).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | Morgan Stanley | Target raised | Overweight | $211 → $224 |
| 2026-10-21 | JP Morgan | Target lowered | Overweight | $209 → $207 |
| 2026-10-19 | Wells Fargo | Target raised | Equal-Weight | $184 → $189 |
| 2026-10-16 | Barclays | Target raised | Overweight | $201 → $202 |
| 2026-10-14 | Freedom Broker | Initiated | Buy | $192 |
| 2026-10-13 | Susquehanna | Target lowered | Neutral | $185 → $180 |
| 2026-10-12 | Morgan Stanley | Target raised | Overweight | $209 → $211 |
| 2026-10-08 | Mizuho | Target raised | Outperform | $221 → $222 |
| 2026-09-10 | Truist Securities | Target raised | Buy | $187 → $198 |
| 2026-09-02 | Wolfe Research | Initiated | Outperform | $203 |
| 2026-08-18 | Morgan Stanley | Target lowered | Overweight | $218 → $209 |
| 2026-08-11 | Susquehanna | Target raised | Neutral | $180 → $185 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +19.7% | +117.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +19.8% | +16.7% |
| Volatility (annualized) | 34.1% | 32.0% |
| Max drawdown | -23.3% (Jun 2026→Sep 2026) | -35.4% (Feb 2025→Apr 2025) |

## Peers (Lodging)
HTHT (H World Group Limited) USD 46.31 +1.18% · IHG (Intercontinental Hotels Group) USD 167.78 -1.81% · WH (Wyndham Hotels & Resorts, Inc.) USD 75.07 -4.20% · CHH (Choice Hotels International, In) USD 111.98 -1.48% · ATAT (Atour Lifestyle Holdings Limite) USD 32.58 -1.75% · HLT (Hilton Worldwide Holdings Inc.) USD 358.07 -1.15%

## More
Full page: https://nexqual.com/H · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name H in their own reports (relationship from H's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | MARRIOTT VACATIONS WORLDWIDE Corp (VAC) | 10-K 2026-03-02 | "We use the term "Hyatt Vacation Ownership" to refer to our Hyatt-branded business, and we also refer to Hyatt's World of Hyatt® customer loyalty program as "World of Hyatt."" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Management and franchising | $1.34B | 73.3% | +6.9% |
| Owned and leased | $279.0M | 15.3% | -9.7% |
| Distribution | $225.0M | 12.3% | -14.1% |
| Total revenue | $1.83B | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Revenues for reimbursed costs | $1.02B | 55.9% | +8.3% |
| — Gross fees (part of Revenues for reimbursed costs) | $324.0M | 17.7% | +7.6% |
| — Owned and leased (part of Revenues for reimbursed costs) | $274.0M | 15.0% | -9.9% |
| — Distribution (part of Revenues for reimbursed costs) | $225.0M | 12.3% | -14.1% |
| — Franchise and other fees (part of Revenues for reimbursed costs) | $136.0M | 7.4% | +7.9% |
| — Incentive management fees (part of Revenues for reimbursed costs) | $64.0M | 3.5% | +3.2% |
| Segment revenues | $334.0M | 18.3% | +3.4% |
| Net fees | $307.0M | 16.8% | +7.3% |
| Base management fees | $124.0M | 6.8% | +9.7% |
| Total revenue | $1.83B | 100% | — |
The lines above cover 97.8% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $4.96B | 69.8% | -1.6% |
| All foreign | $2.15B | 30.2% | +33.1% |
| Total revenue | $7.10B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.76 | $0.97 | -21.1% | $1.75B | 21 |
| Next quarter (ends 2026-12-31) | $1.00 | $1.08 | -6.9% | $1.82B | 21 |
| Current fiscal year (ends 2026-12-31) | $3.58 | $3.62 | -1.0% | $7.16B | 24 |
| Next fiscal year (ends 2027-12-31) | $4.86 | $5.00 | -2.8% | $7.75B | 24 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±8.8%; last 8 reports averaged ±6.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 38.7% | ±8.8% |
| 2026-12-18 | 56 | 36.5% | ±11.5% |
| 2027-01-15 | 84 | 35.9% | ±13.9% |
| 2027-02-19 | 119 | 36.4% | ±16.6% |
| 2027-05-21 | 210 | 37.4% | ±22.6% |