Hyatt Hotels Corporation Reports Operating Results (10-K)

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Feb 17, 2011
Hyatt Hotels Corporation (H, Financial) filed Annual Report for the period ended 2010-12-31.

Hyatt Hotels Corp. has a market cap of $2.2 billion; its shares were traded at around $49.52 with a P/E ratio of 247.7 and P/S ratio of 0.7. Hedge Fund Gurus that owns H: Jim Simons of Renaissance Technologies LLC, Bruce Kovner of Caxton Associates, Louis Moore Bacon of Moore Capital Management, LP, Manning & Napier Advisors, Inc, Steven Cohen of SAC Capital Advisors, George Soros of Soros Fund Management LLC. Mutual Fund and Other Gurus that owns H: Ron Baron of Baron Funds, Ron Baron of Baron Funds, Jean-Marie Eveillard of First Eagle Investment Management, LLC, Jean-Marie Eveillard of First Eagle Investment Management, LLC.

Highlight of Business Operations:

As of June 30, 2010, the aggregate market value of the registrants Class A common stock, $0.01 par value, held by non-affiliates of the registrant was approximately $1,619.9 million (based upon the closing sale price of the Class A common stock on that date on The New York Stock Exchange). The market value of the registrants Class B common stock is not included in the above value as there is no active market for such stock.

As of January 31, 2011, there were 44,502,196 shares of the registrants Class A common stock, $0.01 par value, outstanding and 129,466,000 shares of the registrants Class B common stock, $0.01 par value, outstanding.

We primarily derive our revenues from hotel operations, management and franchise fees, other revenues from managed properties and sales of vacation ownership properties. For the years ended December 31, 2010 and 2009, revenues totaled $3.5 billion and $3.3 billion, respectively, net income (loss) attributable to Hyatt Hotels Corporation totaled $66 million and $(43) million, respectively, and Adjusted EBITDA totaled $476 million and $406 million, respectively. See Part II, Item 7, Managements Discussion and Analysis of Financial Condition and Results of Operations Key Business Metrics Evaluated by Management Adjusted EBITDA for our definition of Adjusted EBITDA, why we present it and for a reconciliation of our consolidated Adjusted EBITDA to net income (loss) attributable to Hyatt Hotels Corporation for the periods presented. For the years ended December 31, 2010 and 2009, 79.4% and 80.4% of our revenues were derived from operations in the United States, respectively. As of December 31, 2010, 74.3% of our long-lived assets were located in the United States. As of December 31, 2010, we had total debt of $771 million, cash and cash equivalents of $1.1 billion and short-term investments of $524 million. As of December 31, 2010, we had available borrowing capacity of $1.1 billion under our revolving credit facility. These sources provide us with significant liquidity and resources for future growth.

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