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Hyatt Hotels Corp Class A H

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Morningstar’s Analysis

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5-Star Price

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Hyatt Extends Further Into Leisure With ALG Acquisition; New Asset Sale Target Announced

Dan Wasiolek Senior Equity Analyst

Analyst Note

| Dan Wasiolek |

We don’t plan to materially adjust our Hyatt $76 fair value estimate based on the company’s announced acquisition of Apple Leisure Group (ALG) and plans to divest an additional $2 billion in owned assets by 2024. We see shares as slightly undervalued.

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Company Profile

Business Description

Hyatt is an operator of 982 owned (7% of total rooms) and managed and franchise (93%) properties across 16 upscale luxury brands, which includes two vacation brands (Hyatt Ziva and Hyatt Zilara), the recently launched full-service lifestyle brand Hyatt Centric, the soft lifestyle brand Unbound, and the wellness brand Miraval. Hyatt acquired Two Roads in November 2018. The regional breakdown as a percentage of total rooms is 67% Americas, 20% Asia-Pacific, and 13% rest of world.

Contact
150 North Riverside Plaza, 8th Floor
Chicago, IL, 60606
T +1 312 750-1234
Sector Consumer Cyclical
Industry Lodging
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 37,000

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