Hyatt is almost back to profitability and planning a return to a pre-pandemic growth target.
The Chicago-based hotel company, which reported this week a small $9 million loss for the second quarter, has its eyes set on growing its European portfolio. This plan pre-dates the pandemic, but the health crisis delayed plans to beef up a presence across the region.
Now is the right time to go on a European hotel shopping excursion, Hyatt leaders say.
“We feel that we’ve come through the pandemic and [are] now into recovery mode at a healthy clip with respect to earnings and cashflow,” Hyatt CEO Mark Hoplamazian said on an investor call Wednesday. “As always, growing the company in a very deliberate, strategic way is our top priority.”
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