Hyatt reports business travel surge, eyes growth in 2025

The company reported a 10% year-over-year increase in business travel revenue for Q4, attributing the growth to a steady return of large corporate clients

Feb 18, 2025

CEO Mark Hoplamazian highlighted broad-based demand across multiple industries, including IT, banking, consulting, and pharma. Corporate group business outpaced association group business, contributing to higher rates. Despite a decline in overall revenue, full-year business travel revenue increased by 12 percent. Looking ahead, Hyatt anticipates continued momentum into 2025.

Key takeaways

• Business travel recovery: Q4 business travel revenue grew 10% year over year, with a 12% increase for the full year;
• Industry-wide growth: Sectors such as IT, banking, consulting, and pharma saw double-digit increases;
• Corporate group demand: Corporate group business growth outpaced association group business, driving rate expansion;
• Hotel performance metrics: Q4 systemwide RevPAR: +5% ($140.87), ADR: +1.8% ($204.40), occupancy: +2.1 percentage points (68.9%), full-year RevPAR: +4.6% ($142.48);
• 2025 outlook: RevPAR projected to grow 2%-4% year over year;
• Expansion move: Hyatt announced a $2.6 billion acquisition of Playa Hotels & Resorts.

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