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Summary: Hyatt Hotels Corp. May 11
Standard & Poors, May 2011
Abstract
Standard & Poor's Ratings Services' rating on Chicago-based Hyatt Hotels Corp. reflects the company's strong balance sheet and good liquidity position (both contributing to its modest financial risk profile), its satisfactory business risk profile attributable to its high-quality hotel portfolio, the well-respected Hyatt brand name, and geographic diversification. The cyclical nature of the lodging industry, the company's exposure to the performance of its owned hotels, and the expectation for the company to maintain an active growth strategy temper these positive factors. While improving group demand and pricing will likely benefit Hyatt's revenue per available room (RevPAR) performance in the second half of 2011, renovations will likely depress Hyatt's RevPAR (and EBITDA) performance for the full year compared to our 6%...
Companies mentioned in this report are: Hyatt Hotels Corp.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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