Hyatt’s record-breaking first quarter 2023 financial report shows favorable results in the Middle East region

Hyatt’s record-breaking first quarter 2023 financial report shows favorable results in the Middle East region

- Hyatt’s transformative growth plan gains momentum in the Middle East and Africa region, with four signings in the Kingdom of Saudi Arabia in the first half of 2023, an upcoming brand expansion in Egypt, two brand debuts set for Qatar and three brand debuts expected in Kenya across the next year.

- Hyatt shared a global net income of $58 million in the first quarter of 2023 compared to a net loss of $73 million in the first quarter of 2022.

- Comparable system-wide RevPAR increased 42.9 per cent in the first quarter of 2023 compared to 2022.

- Adjusted EBITDA was $268 million in the first quarter of 2023 compared to $169 million in the first quarter of 2022.

- Hyatt expects to triple its portfolio in the Kingdom of Saudi Arabia in the next five years.

- Hyatt is set to debut three brands in Kenya in the next twelve months, with the slated opening of Hyatt Regency Nairobi, as well as the first dual-branded Hyatt property in Africa, Hyatt House Nairobi, Westlands and Hyatt Place Nairobi, Westlands.

- Two of Hyatt’s lifestyle brands are set to debut in the capital of Qatar across the next twelve months, with the anticipated opening of