Hyatt Stock Falls as Company Says Election, Jewish Holidays Weighed on Q4 Results | Global News Avenue

The company said Hyatt’s shares fell as the presidential election and High Holy Day were hurt by the fourth-quarter business.

Hyatt Wine (h) reported its latest financial results Thursday, which were worse than Wall Street expected. The news dropped its shares by nearly 11% in early trading.

The company said partly because of the group demand affected by the election – other travel companies pointed out in their own results, but also “a shift in the Jewish holidays.”

Rosh Hashanah and Yom Kippur happened in early October last year, after a decline in September or the third quarter of 2023, which could bring more Jewish travelers home to watch the holidays during this period.

“Group room revenues for the quarter were flat this quarter, with revenues adjusted during the October Jewish holiday and November’s U.S. elections adjusted, CEO Mark Hoplamazian said on the company’s revenue call. 5% growth. “We usually see lower groups and businesses during the holidays.”

Hyatt reported adjustments in the fourth quarter Earnings per share (EPS) Revenue was $0.42 USD 160 billion. Analysts with visible Alpha votes are expected to be $0.71 and $1.65 billion, respectively.

Hyatt shares have grown by about 14% over the past 12 months.

Update – This article has been updated with the latest stock price information and Hyatt reviews.