Hyatt Hotels Corporation (H) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

August 9, 2022 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the Hyatt Second Quarter 2022 Earnings Call. As a reminder, this conference call is being recorded.

I would now like to turn the call over to Noah Hoppe, Senior Vice President, Investor Relations. Please go ahead.

Noah Hoppe

Thank you, operator. Good morning, everyone, and thank you for joining us for Hyatt's second quarter 2022 earnings conference call. Joining me on today's call are Mark Hoplamazian, Hyatt's President and Chief Executive Officer; and Joan Bottarini Hyatt's Chief Financial Officer.

Before we get started, I would like to remind everyone that our comments today will include forward-looking statements under federal securities laws. These statements are subject to numerous risks and uncertainties, as described in our Annual Report on Form 10-K, quarterly reports on Form 10-Q and other SEC filings. These risks could cause our actual results to differ materially from those expressed in or implied by our comments. Forward-looking statements in the earnings release that we issued today, along with the comments on this call are made only as of today and will not be updated as actual events unfold.

In addition, you can find a reconciliation of non-GAAP financial measures referred to in today's remarks on our website at hyatt.com under the Financial Reporting section of our Investor Relations link and in this morning's earnings release. An archive on this call will be available on our website for 90 days.

And with that, I'll turn the call over to Mark.

Mark Hoplamazian

Thank you, Noah. Good morning and thank you to everyone for joining us today. This morning we reported our second quarter 2022 earnings results, further demonstrating the power of Hyatt's transformation into a fundamentally stronger and uniquely positioned company.

The attributes that define our differentiated model include: first; our focus on the high-end traveler; second, our earnings concentration in the Americas; third, a majority of revenues derived from leisure travel; fourth, relatively higher exposure to group business; fifth, strong positive operating leverage, especially in our owned and leased hotel performance; and finally, industry-leading net rooms growth over the past five years. In the same time period, Hyatt has been transformed and, we believe, is well positioned to outperform other multi-brand companies over the years to come.

Our second quarter results reflect superior performance across all of our business lines, derived entirely from the attributes I just mentioned that define our positioning. We anticipated a strong recovery in the second quarter and I'm pleased to report results that exceeded our expectations.