Hyatt boosts profits and now surpasses Hilton, IHG and Choice

The financial results for the first half of the year for the major Hotel chains have mostly been favourable, such as the American Hyatt, which boosted its profits, surpassing Hilton, IHG and Choice.

Hyatt achieved a profit of 599% with 125 million dollars in 2023 and achieving 864 million dollars in 2024, while Hilton earned 617 million dollars last year and approximately 677 million dollars this year with an increase of 10.9%, as reported by Cinco Días.

IHG, on the other hand, reached $562 million last year, but this year it fell to $463 million with -16.8%. Choice, although it had a slight growth compared to Hyatt and Hilton, increased its profit by 3.4% with $146 million in 2023 and $149 million on average for 2024.

As reported by REPORTUR.usIn June, the CEOs of three of the world’s largest Hotel chains, Marriott, Hyatt and Accor, agreed that demand for leisure has been falling throughout the year, but they have seen growth in the business and group segments, which is why Hotel chains such as IHG are considering investing in converting office buildings into hotels despite the high costs involved. (Hyatt, Marriott and Accor: leisure falls, but corporate growth soars).

At the New York University International Hotel Investment Conference, Hyatt CEO Mark Hoplamazian said that the leisure segment had seen strong demand over the past two years, but that demand has now shifted to business Travel, with corporate accounts up 12% through April and business Travel up 6% year-over-year.