Hyatt Hotels (NYSE: H) reported Q1 EPS of ($3.57), $2.27 worse than the analyst estimate of ($1.30).

• Net losses increased compared to the first quarter of 2020 to a net loss of $304 million. The net loss included a $193 million non-cash full valuation allowance on U.S. deferred income tax assets.
• Adjusted EBITDA decreased 123.3% compared to the first quarter of 2020, to $(20) million.
• Comparable system-wide RevPAR decreased 48.9% compared to the first quarter of 2020, and decreased 65.4% compared to the first quarter 2019 on a reported basis.1
• Comparable owned and leased hotels RevPAR decreased 64.4% compared to the first quarter of 2020, and decreased 72.5% compared to the first quarter 2019 on a reported basis.1
• Net rooms growth of 6.5%.
• Pipeline of executed management or franchise contracts for approximately 100,000 rooms.
• As of March 31, 2021, the Company had cash, cash equivalents and short-term investments of $1,628 million.

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "First quarter results exceeded expectations as demand improved meaningfully over the course of the quarter. The expansion of vaccine distribution and the easing of travel restrictions in certain markets fueled improved confidence in travel in many of the markets in which we operate. We also reported strong net rooms growth of 6.5%, reaching an important milestone with the opening of our 1,000th hotel in the quarter."

For earnings history and earnings-related data on Hyatt Hotels (H) click here.