At a glance
Hyatt Hotels Corporation is worth $16.19B. Revenue grew 6.8% to $7.10B in fiscal 2025, at a loss; over 5 years it has grown 28.0% a year. It pays a 0.35% dividend yield, and returned $2.47B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +20.5% over the past year with dividends reinvested and +15.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 60.5% in the 2020 crash (S&P 500: 33.7%) and 33.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 21 months and 7 months after the lows.
The business in plain English
Hyatt is a Chicago-based hotel company. As of December 31, 2025, its system had 1,528 hotels and all-inclusive resorts with 372,763 rooms. Other investors own most of them. Hyatt either runs those hotels for a fee or franchises them, meaning owners pay to use a Hyatt brand and run the hotel themselves. Brands range from Park Hyatt and Alila at the luxury end, through Grand Hyatt and Hyatt Regency, to Hyatt Place and Hyatt House. The June 17, 2025 purchase of Playa Hotels added all-inclusive resorts in Mexico, the Dominican Republic and Jamaica.
In 2025, revenue totaled $7,101 million. The management and franchising segment brought in $4,831 million, or 68%. That includes base management fees of $446 million, usually a share of a hotel's sales. It also includes incentive fees of $272 million, which are tied to hotel profits, and franchise and other fees of $480 million. Hotels Hyatt owns or leases added $1,397 million (19.7%). The distribution segment, which includes the ALG Vacations travel business and the Mr & Mrs Smith booking platform, added $946 million (13.3%).
About 69.8% of revenue came from the United States and 30.2% from other countries. Guests range from business travelers and conference groups to families and adults-only resort vacationers.
Price history
The interactive chart needs JavaScript.
H +20.5% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Owned and leased | $1.38B | 19.4% |
| Gross fees | $1.20B | 16.9% |
| Net fees | $1.11B | 15.7% |
| Rooms and packages | $1.04B | 14.6% |
| Distribution | $946.0M | 13.3% |
| Franchise and other fees | $480.0M | 6.8% |
| Base management fees | $446.0M | 6.3% |
| Incentive management fees | $272.0M | 3.8% |
| Food and beverage | $215.0M | 3% |
| Other revenues | $39.0M | 0.5% |
By business segment
| Management and franchising | $4.83B | 68% |
| Owned and leased | $1.40B | 19.7% |
| Distribution | $946.0M | 13.3% |
By geography
| United States | $4.96B | 69.8% |
| All foreign | $2.15B | 30.2% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $1.74B, down 2.4% from a year earlier, and net income was $58.0M.
- For fiscal 2025, revenue was $7.10B (+6.8% year over year; +28.0% a year from FY2020 to FY2025) with a -0.7% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +28.0% good |
|---|---|
| Free cash flow margin | 2.2% watch |
| Return on equity (FY2025) | -1.6% weak |
| Return on assets (FY2025) | -0.4% weak |
| Net cash (cash minus debt) | $-3.22B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.07B | $-703.0M | $-733.0M |
| FY2021 | $3.03B | $-222.0M | $204.0M |
| FY2022 | $5.89B | $455.0M | $473.0M |
| FY2023 | $6.67B | $220.0M | $602.0M |
| FY2024 | $6.65B | $1.30B | $463.0M |
| FY2025 | $7.10B | $-52.0M | $159.0M |
Valuation snapshot
| Market value | $16.19B |
|---|---|
| P/E ratio | — |
| Dividend yield | 0.35% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| H price data to Oct 28, 2026 | +8.4% | +20.5% | +20.9% | +15.6% | +13.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +8.4% |
| 2025 | +2.5% |
| 2024 | +20.9% |
| 2023 | +44.8% |
| 2022 | -5.7% |
| 2021 | +29.2% |
| 2020 | -17.0% |
| 2019 | +34.1% |
| 2018 | -7.4% |
| 2017 | +33.1% |
| 2016 | +17.5% |
| 2015 | -21.9% |
| 2014 | +21.7% |
| 2013 | +28.2% |
| 2012 | +2.5% |
| 2011 | -17.7% |
| 2010 | +53.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 47.1% over that stretch · deepest drop along the way 60.5%, back to its old high 21.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 13.9% over that stretch · deepest drop along the way 33.2%, back to its old high 6.9 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 21 sales ($29.0M), 5 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 22, 2026 | Mark Samuel Hoplamazian See Remarks, Director | sell | $6.6M |
| Jun 22, 2026 | Mark Samuel Hoplamazian See Remarks, Director | sell | $6.0M |
| Jun 18, 2026 | Mark Samuel Hoplamazian See Remarks, Director | sell | $3.7M |
| Jun 22, 2026 | Mark Samuel Hoplamazian See Remarks, Director | sell | $3.3M |
| Jun 18, 2026 | Mark Samuel Hoplamazian See Remarks, Director | sell | $2.4M |
Who owns it
Large shareholders (13G filings)
| BAMCO INC /NY/ | 17.74% | Jun 30, 2026 |
| PRINCIPAL GLOBAL INVESTORS | 7.5% | Sep 30, 2026 |
| Wellington Management Group LLP | 6.9% | Jun 30, 2026 |
| Massachusetts Financial Services Company | 6.5% | Sep 30, 2025 |
| Vanguard Capital Management | 5.05% | Mar 31, 2026 |
ETFs with the most weight in H
| NITE Nightview Fund NITE | 4.94% |
| GRPM Invesco S&P MidCap 400 GARP ETF | 2.09% |
| RFG Invesco S&P MidCap 400® Pure Growth ETF | 1.21% |
| XMVM Invesco S&P MidCap Value with Momentum ETF | 0.68% |
| LST Leuthold Select Industries ETF | 0.41% |
| IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.4% |
| MDYG SPDR S&P 400 Mid Cap Growth ETF | 0.38% |
| IJK iShares S&P Mid-Cap 400 Growth ETF | 0.37% |
What could go wrong
- Pritzker family holds voting control. Pritzker family business interests can control director elections and other shareholder votes, which limits outside investors' say. Family disputes could distract management, and large sales of converted Class B shares could push the stock down.
- Depends on hotel owners and franchisees. Most Hyatt hotels belong to other investors. If relationships sour, contracts end early or hotels miss performance tests, Hyatt can lose fees. Some contracts make Hyatt guarantee payments if hotel profits fall short.
- Playa integration and owned property sales. The 2025 Playa Hotels deal added all-inclusive resorts in Mexico, the Dominican Republic and Jamaica. Integrating acquisitions can take longer than planned, and Hyatt may be unable to sell selected owned properties on acceptable terms.
- Booking sites and AI could bypass Hyatt. More bookings through online travel agencies, alternatives to traditional hotels or future AI platforms could weaken loyalty to Hyatt's brands and its World of Hyatt loyalty program, cutting revenue and profits.
- Debt and credit rating pressure. As of June 30, 2026, Hyatt had $4.28 billion of debt against $1.31 billion of cash and investments. Debt payments reduce flexibility, and a credit rating downgrade could raise borrowing costs.
- Travel demand drops in downturns. Hotel spending is cyclical. Recessions, pandemics, extreme weather, terrorism or war can cut bookings fast. Hyatt's shares fell 60.5% from peak to low during the 2020 COVID crash.
Recent events
- Quarterly results released
- Quarterly results released
- Investor presentation or announcement; Other company announcement
- Executive or board change; Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Acquisition or sale of assets completed; Investor presentation or announcement
- Major agreement signed; Other company announcement
For income and retirement investors
Hyatt pays a small dividend and has no streak of increases. It paid $0.20 a share in 2020, nothing in 2021 or 2022, and $0.15 a share in each year from 2023 through 2025. The yield was 0.35% as of October 28, 2026. With a $52 million net loss in 2025, earnings did not cover the dividend. Dividends used about 35.8% of free cash flow, the cash left after running and investing in the business. Share buybacks, where Hyatt purchases its own stock, matter far more: $2.31 billion from 2021 through 2025, against $164 million in dividends.
In the 2020 COVID crash, the stock dropped 60.5% from its peak and took about 21 months to recover. In the 2022 bear market, it fell 33.2% and recovered in about 7 months. For income investors, the dividend provides little to live on, and the shares can drop sharply when travel slows. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Hyatt make money?
Mostly by managing and franchising hotels owned by other investors. That segment produced $4,831 million, or 68% of Hyatt's $7,101 million of revenue in 2025. This included $1,198 million in gross fees from base management, incentive and franchise charges. Hotels Hyatt owns or leases added $1,397 million (19.7%). The distribution segment, home to ALG Vacations and the Mr & Mrs Smith travel platform, added $946 million (13.3%). The United States supplied 69.8% of revenue.
Does Hyatt raise its dividend every year?
No. Hyatt has no streak of dividend increases. It paid $0.20 a share in 2020, nothing in 2021 or 2022, and $0.15 a share in each of 2023, 2024 and 2025. The yield was 0.35% as of October 28, 2026. Hyatt has returned far more cash through share buybacks: $2.31 billion from 2021 through 2025. Its 10-K warns there is no assurance it will keep paying dividends or buying back shares.
Is Hyatt profitable?
Not in its latest full year. Hyatt reported a net loss of $52 million on revenue of $7,101 million for the year ended December 31, 2025, after net income of $1,296 million in 2024. Adjusted EBITDA was $1,159 million. That is a company-defined profit measure that strips out interest, taxes, depreciation, amortization and some other items. In the quarter ended June 30, 2026, Hyatt earned $110 million on revenue of $1,829 million.
Does the Pritzker family control Hyatt?
Yes, to a large degree. Hyatt's 10-K says Pritzker family business interests have substantial control and can control the election of directors and other matters put to a shareholder vote. Voting agreements also mean many shares are voted as the board recommends. That limits outside shareholders' influence. The 10-K also warns that family disputes could distract management, and that large sales of shares converted from Class B to Class A stock could weigh on the price.
How has Hyatt stock performed over the long term?
Hyatt shares have gained over the long run, with deep drops along the way. As of October 28, 2026, the price-based return was 13.7% a year over 10 years, or 260% in total, and 15.6% a year over five years. Over the year to that date, the stock rose 20.5%. It fell 60.5% in the 2020 COVID crash and 33.2% in the 2022 bear market. It also lost ground in calendar years 2015, 2018, 2020 and 2022.