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Hyatt Hotels (H) Q3 2025 earnings results (third quarter 2025)

10-Q filed Nov 6, 2025

Hyatt Hotels (H) reported revenue of $1.8B for the third quarter 2025 (Q3 2025), +10% from a year earlier and -1% from the quarter before. Operating margin was -1.0%, net loss $50.0M (2.8% of revenue).

Revenue$1.8B
Year over year+10%
Quarter over quarter-1%
Operating margin-1.0%
Net earnings−$50.0M

Hyatt Hotels, Q3 2025: revenue $1.8B (+10% year over year), operating margin -1.0%, net loss $50.0M, operating cash flow −$20.0M. The chart follows the revenue to costs, profit and cash.

Q3 2025AmountQ/QY/Y
Revenue$1.8B-1%+10%
Operating profit−$17.0M-145%—
Net earnings−$50.0M——
Operating cash flow−$20.0M——

What changed

Revenue was $1.8B in Q3 2025, up 10% year over year and down 1% from the previous quarter. Owned and leased was the largest line at 24% of revenue. Owned and leased added $0.14B year over year (up 49%), 90% of the total change. Distribution declined 13%.

Operating costs exceeded revenue by $0.02B, an operating margin of -1.0%. Total costs grew 77% against revenue growth of 10%. The fastest-growing cost line was Other operating costs (+86%). The quarter ended with a net loss of $0.05B, wider than the previous quarter's $4.0M loss.

Operating cash flow was −$0.02B. Non-cash charges added back $0.08B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.07B exceeded it, leaving free cash flow of −$0.09B.

Questions

What was Hyatt Hotels' revenue in the third quarter 2025?

Hyatt Hotels (H) reported revenue of $1.8B for the third quarter 2025 (Q3 2025), +10% from a year earlier and -1% from the quarter before.

Was Hyatt Hotels profitable in the third quarter 2025?

Operating loss was $17.0M (-1.0% of revenue) and net loss $50.0M.

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Source: Hyatt Hotels 10-Q on SEC EDGAR.