Hyatt in Q3 2025: Fee and EBITDA Growth Amid a Reported Loss

In the third quarter of 2025, Hyatt Hotels Corporation once again demonstrated its ability to grow despite market turbulence. Despite reporting a net loss of $49 million, the company improved all key operational indicators: fee revenue rose nearly 6%, EBITDA reached $291 million, and the total room count climbed to 141,000. Hyatt is consolidating its position as a brand-operator rather than an owner, following an asset-light strategy focused on franchise, management, and loyalty expansion through the World of Hyatt program.

For Hyatt, the priority is not the number of properties but the quality of the experience. The company focuses on emotional hospitality — from Park Hyatt Kuala Lumpur to Hyatt Regency Times Square in New York. These are hotels where luxury is defined not by star ratings but by attention to detail, architecture, and personalized service.

Why There’s a Loss Despite Growing Operational Metrics

The reported net loss of $49 million (adjusted loss – $29 million) doesn’t contradict the positive operating trends. The financial impact stemmed from one-time effects from 2024 asset sales, distribution base shifts, and the timing of group bookings. Meanwhile, Hyatt’s core fee-based business — franchise and management contracts — continues to expand, confirming the resilience of its brand-led, capital-light model.

Revenue Drivers: Luxury, All-Inclusive, and Loyalty

Luxury chains were the main drivers of RevPAR growth. Leisure demand remained the strongest segment, while group demand softened due to calendar shifts.

The Net Package RevPAR for luxury all-inclusive properties rose 7.6% year-over-year.
Base management fees increased 10%, incentive management fees 2%, and franchise/other fees 4%.
Owned and leased properties showed a 7% EBITDA increase after adjustments.
The partnership between World of Hyatt and Chase continues to strengthen loyalty monetization: according to forecasts, credit card and third-party partnership economics are expected to more than double between 2025 and 2027.

New Openings and Deals: From Manhattan to a Master Franchise in China

In Q3, Hyatt opened 5,163 rooms across several landmark projects. Key debuts include Park Hyatt Kuala Lumpur (in Asia-Pacific’s tallest skyscraper), Park Hyatt Johannesburg, Secrets Playa Esmeralda Resort & Spa in Punta Cana, and Hyatt Regency Times Square, the first Hyatt Regency in Manhattan and the 30th Hyatt property in New York City.

Hyatt also signed a master franchise agreement with HomeInns Hotel Group to develop 50 Hyatt Studios across China — a strategic move to balance CapEx, accelerate brand expansion, and strengthen market penetration.

Hyatt’s 2025 Outlook (Excluding Playa Transactions)

Comparable RevPAR growth: +2.0–2.5% vs 2024

Net room growth (excluding M&A): +6.3–7.0%

Net income: $70–86 million

Adjusted EBITDA: $1.09–1.11 billion (+7–9% after adjusting for 2024 asset sales)

Shareholder returns: approximately $350 million (dividends + buybacks)

Market Context: Europe Accelerates While Others Pause

Industry data for Q3 2025 shows that Europe is the only region with simultaneous growth in hotel construction and total pipeline. The main drivers are cities’ focus on “quality tourism” — higher ADR (average daily rate) with stable occupancy — as well as adaptive redevelopment and preparation for major events.

For global chains, this is a signal to reallocate capital toward predictable, high-RevPAR/ADR markets with strong infrastructure and sustainable demand.

Wyndham Grand Batumi Gonio: A Benchmark of True Luxury on the Black Sea

A different but equally ambitious path has been chosen by Wyndham Hotels & Resorts, developing flagship luxury properties. A standout example is Wyndham Grand Batumi Gonio — the brand’s first hotel in Georgia. This is not just another resort but a symbol of the country’s transition toward a world-class luxury hospitality standard.

Located in one of the most pristine parts of the Adjara coastline, the complex unites a five-star hotel with a collection of luxury residences, villas, and club spaces. Its Ultra All Inclusive format redefines luxury: not as display, but as effortless comfort, bespoke service, and flawless infrastructure.

With water zones, a spa and wellness center, signature dining, and both family and adults-only spaces, the project was one of the first to prove that Georgia can compete with Turkey, the UAE, and the Mediterranean in the luxury hospitality segment.

Today, Georgia is no longer just an emerging tourism destination — it is becoming a new point of attraction for global luxury brands. The country combines a low entry threshold for investors, high margins, and growing international visitor flows. Following Wyndham Grand’s success, interest from Hilton, Accor, Marriott, and reportedly Hyatt has intensified, with potential plans for Park Hyatt or Hyatt Centric in Tbilisi.

Such projects don’t just attract new guests — they reshape the country’s image. Georgia is moving beyond the midscale market, becoming part of Eastern Europe’s elite hospitality map.

The market is rapidly shifting from local independents to global brand portfolios such as Hilton, Marriott, and Wyndham. This transition is raising service standards, operational efficiency, and the overall reputation of Georgian tourism.

Read also:
Europe Surges Ahead: Why Hotel Construction Is Growing Here While Other Regions Hit Pause