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Hyatt Hotels vs Travel & Leisure: H and TNL compared
Hyatt Hotels is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.1B for Travel & Leisure (Q3 2026). Travel & Leisure is growing faster (+6% against -2% a year earlier). Travel & Leisure is more profitable, with an operating margin of 17.7% against 4.5%.
Where the money goes: H and TNL
Hyatt Hotels (H) · Q3 2026
Hyatt Hotels, Q3 2026: revenue $1.7B (-2% year over year), operating margin 4.5%, net earnings $58.0M, operating cash flow −$135M. The chart follows the revenue to costs, profit and cash.
Travel & Leisure (TNL) · Q3 2026
Travel & Leisure, Q3 2026: revenue $1.1B (+6% year over year), operating margin 17.7%, net earnings $108M, operating cash flow $130M. The chart follows the revenue to costs, profit and cash.
| Hyatt Hotels (H) | Travel & Leisure (TNL) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $1.7B | $1.1B |
| Revenue growth, Y/Y | -2% | +6% |
| Operating margin | 4.5% | 17.7% |
| Net earnings | $58.0M | $108M |
| Net margin | 3.3% | 9.8% |
| Operating cash flow | −$135M | $130M |
| Free cash flow | — | $111M |
| Market value | $17.9B | $4.7B |
| P/E | 95.6× | 20.1× |
| Analysts’ mean target | $201.52 | $87.23 |
Where the revenue comes from
Hyatt Hotels
- Segment revenues: $766M (44%)
- Net fees: $308M (18%)
- Owned and leased: $271M (16%)
- Distribution: $168M (10%)
Travel & Leisure
- Vacation ownership interest sales: $545M (50%)
- Service and membership fees: $408M (37%)
- Consumer financing: $118M (11%)
- Other: $30.0M (3%)
Questions
Which is bigger, Hyatt Hotels or Travel & Leisure?
Hyatt Hotels is the larger company: $1.7B of revenue in its latest quarter (Q3 2026) against $1.1B for Travel & Leisure (Q3 2026).
Is Hyatt Hotels or Travel & Leisure growing faster?
Travel & Leisure is growing faster (+6% against -2% a year earlier).
Which is more profitable, Hyatt Hotels or Travel & Leisure?
Travel & Leisure is more profitable, with an operating margin of 17.7% against 4.5%.
More: Hyatt Hotels earnings · how Hyatt Hotels makes money · Travel & Leisure earnings · how Travel & Leisure makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Oct 27, 2026). Fiscal quarters can end on different dates. Not investment advice.