Hyatt Hotels Corp. reported gains in occupancy
and average daily rate during the third quarter. Occupancy increased 1.1
percentage points year over year to 77.5 percent, while ADR grew 1.1 percent
year over year to $181.03. Similar to Hilton,
Hyatt reported weakness in the business transient segment, a trend Hyatt CEO
Mark Hoplamazian said is continuing into the fourth quarter. Last week, the
company introduced a global loyalty program, World of Hyatt, which works on a
three-tier system that allows guests to receive more rewards more quickly.
Hoplamazian said loyalty program members will shift to the new program on March
1, 2017. Hyatt added 11 hotels, or 2,314 rooms, to its portfolio during the
third quarter and is on track to open more than 60 total in 2016. Third-quarter
revenue increased to $1.09 billion from $1.05 billion last year.