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40.63 (1y: +10%)
Market Cap 6.63 B P/E(ttm) 77.00
Enterprise Value 7.06 B P/B 1.40
H- NYSE (USA)
Hyatt Hotels Corporation
Not Rated
Top Ranked Predictable Companies
$40.63
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength

vs
industry		 vs
history
Cash to Debt 0.752
H's Cash to Debt is ranked lower than
56% of the 473 Companies
in the Global Lodging industry.

( Industry Median: 1.14 vs. H: 0.752 )
H' s 10-Year Cash to Debt Range
Min: 0.5   Max: 1.04
Current: 0.75
0.5
1.04
Equity to Asset 0.563
H's Equity to Asset is ranked higher than
53% of the 421 Companies
in the Global Lodging industry.

( Industry Median: 0.54 vs. H: 0.563 )
H' s 10-Year Equity to Asset Range
Min: 0.46   Max: 0.65
Current: 0.56
0.46
0.65
Interest Coverage 3.4
H's Interest Coverage is ranked lower than
82% of the 359 Companies
in the Global Lodging industry.

( Industry Median: 33.90 vs. H: 3.4 )
H' s 10-Year Interest Coverage Range
Min: 1   Max: 9
Current: 3.4
1
9
F-Score: 8
Z-Score: 2.38
M-Score: -1.68
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth

vs
industry		 vs
history
Operating margin (%) 4.00
H's Operating margin (%) is ranked lower than
83% of the 387 Companies
in the Global Lodging industry.

( Industry Median: 10.10 vs. H: 4.00 )
H' s 10-Year Operating margin (%) Range
Min: 1.4   Max: 10.3
Current: 4
1.4
10.3
Net-margin (%) 2.2
H's Net-margin (%) is ranked lower than
86% of the 358 Companies
in the Global Lodging industry.

( Industry Median: 8.20 vs. H: 2.2 )
H' s 10-Year Net-margin (%) Range
Min: -1.3   Max: 7.2
Current: 2.2
-1.3
7.2
ROE (%) 1.8
H's ROE (%) is ranked lower than
89% of the 347 Companies
in the Global Lodging industry.

( Industry Median: 8.00 vs. H: 1.8 )
H' s 10-Year ROE (%) Range
Min: -0.9   Max: 7.9
Current: 1.8
-0.9
7.9
ROA (%) 1.2
H's ROA (%) is ranked lower than
88% of the 353 Companies
in the Global Lodging industry.

( Industry Median: 4.60 vs. H: 1.2 )
H' s 10-Year ROA (%) Range
Min: -0.6   Max: 4.3
Current: 1.2
-0.6
4.3
ROC (Joel Greenblatt) (%) 3.70
H's ROC (Joel Greenblatt) (%) is ranked lower than
88% of the 339 Companies
in the Global Lodging industry.

( Industry Median: 16.20 vs. H: 3.70 )
H' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 1.3   Max: 11.1
Current: 3.7
1.3
11.1
Revenue Growth (%) 2.1
H's Revenue Growth (%) is ranked lower than
88% of the 212 Companies
in the Global Lodging industry.

( Industry Median: 8.00 vs. H: 2.1 )
H' s 10-Year Revenue Growth (%) Range
Min: -7.6   Max: 2.1
Current: 2.1
-7.6
2.1
EBITDA Growth (%) 10.2
H's EBITDA Growth (%) is ranked lower than
58% of the 175 Companies
in the Global Lodging industry.

( Industry Median: 12.30 vs. H: 10.2 )
H' s 10-Year EBITDA Growth (%) Range
Min: -16   Max: 10.2
Current: 10.2
-16
10.2
» H's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

H Guru Trades in Q2 2012

Steven Cohen 2,749,114 sh (+34.95%)
Manning & Napier Advisors, Inc 94,690 sh (+20.82%)
Ron Baron 4,686,522 sh (+0.5%)
Mario Gabelli 50,800 sh (unchged)
Richard Perry Sold Out
Jim Simons 41,100 sh (-73.74%)
» More
Q3 2012

H Guru Trades in Q3 2012

Kyle Bass 323,250 sh (New)
Jim Simons 62,400 sh (+51.82%)
Mario Gabelli 62,800 sh (+23.62%)
Ron Baron 5,174,796 sh (+10.42%)
Manning & Napier Advisors, Inc 94,690 sh (unchged)
Steven Cohen 2,324,100 sh (-15.46%)
» More
Q4 2012

H Guru Trades in Q4 2012

Kyle Bass 350,000 sh (+8.28%)
Ron Baron 5,390,788 sh (+4.17%)
Manning & Napier Advisors, Inc 94,880 sh (+0.2%)
Mario Gabelli 62,800 sh (unchged)
Jim Simons Sold Out
Steven Cohen 203,377 sh (-91.25%)
» More
Q1 2013

H Guru Trades in Q1 2013

Third Avenue Management 353,337 sh (New)
Jim Simons 50,700 sh (New)
Ron Baron 5,804,741 sh (+7.68%)
Steven Cohen 207,512 sh (+2.03%)
Manning & Napier Advisors, Inc 95,580 sh (+0.74%)
Mario Gabelli 62,800 sh (unchged)
Kyle Bass Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with H

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ron Baron 2012-09-30 Add 10.42%0.12%$33.74 - $41.51 $ 40.488%5174796
Mario Gabelli 2012-09-30 Add 23.62%$33.74 - $41.51 $ 40.488%62800
Richard Perry 2012-06-30 Sold Out 0.04%$35.38 - $43.74 $ 40.484%0
Richard Perry 2012-03-31 New Buy0.04%$37.83 - $44.1 $ 40.484%18400
Mario Gabelli 2011-09-30 Add 604%0.01%$31.01 - $43.25 $ 40.4813%52800
George Soros 2011-06-30 Sold Out $38.92 - $45.26 $ 40.48-4%0
Mario Gabelli 2011-06-30 Add 50%$38.92 - $45.26 $ 40.48-4%7500
Jean-Marie Eveillard 2011-03-31 Sold Out $41.35 - $49.57 $ 40.48-12%0
Mario Gabelli 2011-03-31 New Buy$41.35 - $49.57 $ 40.48-12%5000
George Soros 2010-12-31 New Buy$38.27 - $46.19 $ 40.48-4%7600
John Paulson 2010-09-30 Sold Out 0.05%$34.98 - $40.13 $ 40.487%0
George Soros 2010-06-30 Sold Out 0.03%$36.49 - $42.35 $ 40.483%0
George Soros 2010-03-31 New Buy0.03%$28.63 - $39.53 $ 40.4826%47200
Jean-Marie Eveillard 2010-03-31 Add 52.72%$28.63 - $39.53 $ 40.4826%33581
Premium More recent guru trades are included for Premium Members only!!

Guru Investment Theses on Hyatt Hotels Corporation

Ron Baron Comments on Hyatt - Apr 24, 2013

Hyatt (H) continuously invests in room renovations to keep its properties among the most attractive in the lodging industry in terms of quality and amenities. The company is also making expensive "key money" and infrastructure investments to expand its managed portfolio of world class hotels in China and India.We think those investments offer the company a large growth opportunity.

From Ron Baron’s Baron Funds first quarter 2013 investor letter.


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Baron Funds Comments on Hyatt Hotels - Aug 24, 2012

From Baron Funds' second quarter commentary:

Hyatt Hotels Corp. (H), a global lodging company with brands including Park Hyatt, Andaz, and Grand Hyatt, declined 13.0% in the second quarter. The company's expenses were above analysts' expectations due to the company's recent acquisitions and growth initiatives. Revenue per available room increased 8.3% in the first quarter while margins improved 220 basis points. RevPar in the second quarter gained 7.6% which we regard as consistent with these results and shows Hyatt's core business remains strong. We continue to believe that Hyatt's spending related to the company's growth initiatives will ultimately improve profitability. We like its opportunities to expand throughout Asia with franchisees and management contracts. Costs to build and operate iconic, urban hotel properties in Asia are much less than it would cost to build and operate such properties in America. Rooms are also much cheaper. Management recently initiated a $200 million share repurchase program since it regards its share price as unusually attractive.At present, Hyatt shares are valued for 11 times current year estimated EBITDA and at a substantial discount to replacement cost of its properties. Its shares are also at levels substantially below that of private hotel transactions. (David Baron)

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Top Ranked Articles about Hyatt Hotels Corporation

Ron Baron Comments on Hyatt
April 24, 2013
Hyatt (H) continuously invests in room renovations to keep its properties among the most attractive in the lodging industry in terms of quality and amenities. The company is also making expensive "key money" and infrastructure investments to expand its managed portfolio of world class hotels in China and India.We think those investments offer the company a large growth opportunity. Read more...
Baron Funds Comments on Hyatt Hotels
August 24, 2012
From Baron Funds' second quarter commentary: Read more...

Ratios

vs
industry		 vs
history
P/E(ttm) 76.60
H's P/E(ttm) is ranked lower than
91% of the 371 Companies
in the Global Lodging industry.

( Industry Median: 21.20 vs. H: 76.60 )
H' s 10-Year P/E(ttm) Range
Min: 45.64   Max: 395.9
Current: 76.6
45.64
395.9
P/B 1.40
H's P/B is ranked higher than
52% of the 464 Companies
in the Global Lodging industry.

( Industry Median: 1.42 vs. H: 1.40 )
H' s 10-Year P/B Range
Min: 0.98   Max: 1.68
Current: 1.4
0.98
1.68
P/S 1.70
H's P/S is ranked lower than
54% of the 488 Companies
in the Global Lodging industry.

( Industry Median: 1.50 vs. H: 1.70 )
H' s 10-Year P/S Range
Min: 1.45   Max: 6.45
Current: 1.7
1.45
6.45
PFCF 30.90
H's PFCF is ranked lower than
73% of the 324 Companies
in the Global Lodging industry.

( Industry Median: 19.71 vs. H: 30.90 )
H' s 10-Year PFCF Range
Min: 30.38   Max: 412.7
Current: 30.9
30.38
412.7
EV-to-EBIT 41.7
H's EV-to-EBIT is ranked lower than
84% of the 392 Companies
in the Global Lodging industry.

( Industry Median: 16.90 vs. H: 41.7 )
H' s 10-Year EV-to-EBIT Range
Min: 36.9   Max: 192.3
Current: 41.7
36.9
192.3

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 13.4
H's Price/Net Current Asset Value is ranked higher than
57% of the 303 Companies
in the Global Lodging industry.

( Industry Median: 19.00 vs. H: 13.4 )
H' s 10-Year Price/Net Current Asset Value Range
Min: 12.3   Max: 31.8
Current: 13.4
12.3
31.8
Price/Tangible Book 1.5
H's Price/Tangible Book is ranked higher than
53% of the 421 Companies
in the Global Lodging industry.

( Industry Median: 1.70 vs. H: 1.5 )
H' s 10-Year Price/Tangible Book Range
Min: 1   Max: 1.7
Current: 1.5
1
1.7
Price/Median PS Value 0.9
H's Price/Median PS Value is ranked higher than
64% of the 456 Companies
in the Global Lodging industry.

( Industry Median: 1.10 vs. H: 0.9 )
H' s 10-Year Price/Median PS Value Range
Min: 0.9   Max: 3
Current: 0.9
0.9
3
Price/Graham Number 2.3
H's Price/Graham Number is ranked lower than
72% of the 326 Companies
in the Global Lodging industry.

( Industry Median: 1.40 vs. H: 2.3 )
H' s 10-Year Price/Graham Number Range
Min: 1.9   Max: 3.4
Current: 2.3
1.9
3.4
Earnings Yield (Greenblatt) 2.40
H's Earnings Yield (Greenblatt) is ranked lower than
85% of the 397 Companies
in the Global Lodging industry.

( Industry Median: 5.90 vs. H: 2.40 )
H' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.5   Max: 2.7
Current: 2.4
0.5
2.7

Business Description

Hyatt Hotels Corporation formerly known as Global Hyatt Corporation was founded in 1957. The Company and its subsidiaries are owned directly and indirectly by trusts for the benefit of members of the Pritzker family. As of December 31, 2011, its worldwide portfolio consisted of 483 properties (132,727 rooms and units), including 184 managed properties (69,010 rooms), all of which it operates under management agreements with third-party property owners; 134 franchised properties (21,195 rooms), all of which are owned by third parties that have franchise agreements with it and are operated by third parties; 104 owned properties (including 2 consolidated hospitality ventures) (25,472 rooms) and 4 leased properties (1,718 rooms), all of which it manage; 26 managed properties and 8 franchised properties owned or leased by unconsolidated hospitality ventures (13,139 rooms); 15 vacation ownership properties (963 units), all of which it manage; and 8 residential properties (1,230 units), all of which it manages and some of which it owns. The Company develops and operates Hyatt-branded timeshare, fractional and other forms of residential or vacation properties. Its mission is to provide authentic hospitality by making a difference in the lives of the people it touches every day. Its full service hotels operate under four world-recognized brands, Park Hyatt, Grand Hyatt, Hyatt Regency and Hyatt. The Company recently introduced its fifth full service brand, Andaz. Its two select service brands are Hyatt Place and Hyatt Summerfield Suites. The Company develops, sells and manages vacation ownership properties in select locations as part of the Hyatt Vacation Club. Hyatt(r), Park Hyatt(r), Grand Hyatt(r), Hyatt Regency (r), Hyatt Place(r), Hyatt Summerfield Suites (tm), Hyatt Vacation Club(r), Andaz(r), Hyatt Gold Passport(r), Hyatt Resorts(tm) and related trademarks, trade names and service marks of Hyatt appearing in this prospectus are the property of Hyatt. It is subject to environmental laws and regulations of federal, state, local and foreign governments.
Company Website
SEC Reports
Industry: Lodging
Compare:
Traded in other countries:1HTA.Germany
» More Articles for H

Headlines

Articles On GuruFocus.com
Ron Baron Comments on Hyatt Apr 24 2013 
Ron Baron Discusses Start in Investing, Stock Holdings in Q1 2013 Letter Apr 24 2013 
Warren Buffett, Donald Yacktman and Kyle Bass All Favoring Consumer Stocks Apr 05 2013 
Baron Funds Third Quarter Quarter Report Dec 06 2012 
Bearish Kyle Bass Sells 6 Stocks, Buys Hyatt and Sealy Nov 16 2012 
Baron Funds: The Case for Real Estate Sep 06 2012 
Baron Funds Comments on Hyatt Hotels Aug 24 2012 
Baron Funds First Quarter Letter from Ron May 24 2012 
George Soros Buys 7.98% Stake in Digital River, Steven Cohen Buys 5.4% Stake in GNC Mar 30 2012 
Steven Cohen Adds Amarin Corp. Awaiting Drug Approval, Buys Hyatt Hotels Mar 28 2012 

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