Hyatt Records Wider Than Expected Loss as Pandemic Saps Demand

(Bloomberg) -- Hyatt Hotels Corp. posted worse than expected fourth quarter results, as spiking Covid-19 cases and a new wave of travel restrictions kept travelers at home.

The company reported an adjusted loss of $1.77 a share, according to a statement Wednesday. Analysts had estimated the loss at $1.38 a share. The shares slipped in late trading in New York.

Hyatt, led by Chief Executive Officer Mark Hoplamazian, recorded a net loss of $203 million in the quarter. That compared to a profit of $321 million in the year before period.

The miss comes after Hilton Worldwide Holdings Inc. and Choice Hotels International Inc. missed analyst estimates on Wednesday.

©2021 Bloomberg L.P.