Hyatt Hotels Corp. followed its peers by revising down its
full-year revenue per available room growth after weak corporate transient
demand impacted second quarter results. Hyatt shifted its full-year guidance to
2 percent to 3 percent RevPAR growth year over year from the previous 3 percent
to 5 percent. CEO Mark Hoplamazian said despite the slowdown in RevPAR growth, Hyatt
performed well. Average daily rate increased 1.6 percent in constant dollar
terms year over year to $185.18. Occupancy rose 0.6 percentage points to 76.9
percent. Transient room revenue grew 3.9 percent year over year at U.S. full-service
hotels, while group room revenue at those hotels increased 3.5 percent year
over year. Total revenue increased 4.8 percent year over year to $1.17 billion.