Filing Flows › Hyatt Hotels (H) › Q2 2026 › vs Q2 2025
Hyatt Hotels (H) Q2 2026 vs Q2 2025 (year over year)
Hyatt Hotels's revenue rose $21.0M (+1%) from $1.8B in Q2 2025 to $1.8B in Q2 2026. The biggest changes: Revenues for reimbursed costs −$43.0M (-4%); Distribution −$37.0M (-14%); Owned and leased −$30.0M (-10%). Operating margin 10.0% against 2.1% (+7.8 pts).
Hyatt Hotels, Q2 2026: revenue $1.8B (+1% year over year), operating margin 10.0%, net earnings $110M, operating cash flow $50.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 10.0% | 2.1% | +7.8 pts |
| Net margin | 6.0% | -0.2% | +6.2 pts |
| Free cash flow margin | 1.5% | -6.1% | +7.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Segment revenues | $823M | $878M | −$55.0M | -6% |
| Rooms and packages | $186M | $218M | −$32.0M | -15% |
| Franchise and other fees | $136M | $126M | $10.0M | +8% |
| Incentive management fees | $64.0M | $62.0M | $2.0M | +3% |
| Food and beverage | $55.0M | $53.0M | $2.0M | +4% |
| Other | $33.0M | $33.0M | $0 | 0% |
| Revenues for reimbursed costs | $1.0B | $1.1B | −$43.0M | -4% |
| Owned and leased | $274M | $304M | −$30.0M | -10% |
| Net fees | $307M | $286M | $21.0M | +7% |
| Distribution | $225M | $262M | −$37.0M | -14% |
| Revenue | $1.8B | $1.8B | $21.0M | +1% |
| Operating profit | $182M | $38.0M | $144M | +379% |
| Costs & expenses | $1.6B | $1.8B | −$123M | -7% |
| Pre-tax earnings | $182M | $38.0M | $144M | +379% |
| General & admin | $180M | $152M | $28.0M | +18% |
| Other operating costs | $1.5B | $1.6B | −$151M | -9% |
| Loss borne by minority interests | $1.0M | $1.0M | $0 | 0% |
| Net earnings | $110M | −$3.0M | $113M | — |
| Income tax | $73.0M | $42.0M | $31.0M | +74% |
| Operating cash sources | $200M | $94.0M | $106M | +113% |
| Depreciation & amortization | $73.0M | $82.0M | −$9.0M | -11% |
| Share-based compensation | $17.0M | $15.0M | $2.0M | +13% |
| Working capital & other | $150M | $161M | −$11.0M | -7% |
| Operating cash flow | $50.0M | −$67.0M | $117M | — |
| Free cash flow (OCF − capex) | $28.0M | −$111M | $139M | — |
| Capital expenditures | $22.0M | $44.0M | −$22.0M | -50% |
Questions
How much did Hyatt Hotels's revenue grow year over year in Q2 2026?
Hyatt Hotels's revenue rose $21.0M (+1%) from $1.8B in Q2 2025 to $1.8B in Q2 2026.
What drove Hyatt Hotels's revenue change in Q2 2026?
Revenues for reimbursed costs −$43.0M (-4%); Distribution −$37.0M (-14%); Owned and leased −$30.0M (-10%).