The average daily rate across Hyatt Hotels Corp.'s portfolio during the second quarter increased 3.4 percent year over year to $181.89, the company reported Thursday.
In the Americas, ADR at select-service hotels during the quarter increased 6.4 percent year over year to $117.51, and occupancy increased by 1.4 percentage points to 81.2 percent. Hyatt president and CEO Mark Hoplamazian during a conference call with investors said the segment's strength reflected growing transient demand.
Hyatt's full-service ADR in the Americas during the quarter increased 3.7 percent year over year to $188.85, and occupancy increased by 1.4 percentage points to 79.1 percent. The timing of Easter during the quarter slowed group demand growth in that segment, according to Hoplamazian.
He added that group reservations for 2015 are picking up and that the first half of the year looks to be "very strong from a group standpoint. We have encouraging signs heading into 2015 with both corporate and association business, and we're seeing lengthening of booking curves."
Full-service ADR in the Asia/Pacific region for the quarter was $229.92, about flat compared with the same period a year prior, and occupancy in the region increased 2.3 percentage points to 69 percent. In Europe, Africa, the Middle East and Southwest Asia, second-quarter ADR increased 2.8 percent year over year to $243.59, and occupancy increased 0.7 percentage points to 68 percent.
Hyatt reported net income of $74 million for the quarter, down from $112 million in the second quarter of 2013.