Hyatt Hotels Corporation · NYSE:H
Hyatt Hotels — Q3 2026 Earnings Presentation
27 slides from Hyatt Hotels's earnings presentation, Oct 29, 2026
Slide 1: Investor Presentation Third Quarter 2026
A L I L A V I L L A S U L U W A T U Investor Presentation THIRD QUARTER 2026 Exhibit 99.2
Slide 2: Disclaimers: Forward-Looking Statements
Disclaimers 2 Forward-Looking Statements Forward-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements about the Company's plans, strategi
Slide 3: Global hospitality company focused on serving the high-end traveler
3 84 Countr ies Around the World and 6 Cont inents 380,217 Rooms 36 Global Brands1 1,584 Hotels and Al l - Inclusive Resorts ~158,000 Rooms in Pipel ine A Company Record P A R K H Y A T T L O N D O N R I V E R T H A M E S Footnotes: Figures as of September 30, 2026. 1 Global brands inclusive of Sept
Slide 4: Hyatt Key Investment Considerations
• Purpose-driven culture fuels performance • Global portfolio of differentiated, premium brands • World of Hyatt’s compelling membership benefits drive loyalty • Significant whitespace opportunity supports long-term organic growth • Asset-light business model designed to drive compounding Free Cash
Slide 5: Brand portfolios demonstrate focus & differentiation
BRAND PORTFOLIOS 1 DEMONSTRATE FOCUS & DIFFERENTIATION Footnotes: 1 Brand portfolio as of September 30, 2026. L U X U R Y L I F E S T Y L E I N C L U S I V E C L A S S I C S E S S E N T I A L S 5
Slide 6: World of Hyatt: Redefining Loyalty
Source Notes: Updated semi-annually based on filings for IHG, MAR, and HLT At June 30: – H: ~36K members per hotel – HLT: ~25K members per hotel – MAR: ~23K members per hotel – IHG: ~20K members per hotel At Sept 30: – H: ~37.4K members per hotel (51M members/ 326,845) – HLT: ~26.0K members per hote
Slide 7: Global Markets
Global Markets1 Global Market Coverage Hotels per Market As de f ined by Smi th T rave l Research marke ts Hya t t has s ign i f i can t oppor tun i t y to expand in to marke ts where i t cu r ren t l y has no b rand p resence Char t be low represen ts marke ts where there i s cu r ren t l y a t l e
Slide 8: Market Tracts: Meaningful growth opportunities in the United States
Market Tracts1 Market Tract Coverage Hotels per Tract As de f ined by Smi th T rave l Research marke t t rac ts Hya t t has s ign i f i can t oppor tun i t y to expand in to t rac ts where i t cu r ren t l y has no b rand p resence Char t be low represen ts t rac ts where there i s cu r ren t l y a
Slide 9: Hyatt's differentiation drives durable growth
9 COMPOUNDING FREE CASH FLOW† & LONG-TERM SHAREHOLDER VALUE P R E M I U M R E V P A R G R O W T H C O M P O U N D I N G F E E G R O W T H I N D U S T R Y - L E A D I N G N E T R O O M S G R O W T H S C H L O S S R O X B U R G H E HYATT’S DIFFERENTIATION DRIVES DURABLE GROWTH
Slide 10: Demonstrated track record of delivering strong results
DEMONSTRATED TRACK RECORD OF DELIVERING STRONG RESULTS Z É L I A H A L K I D I K I 10 +7.0% CAGR +14.0% CAGR +1,300 bps NET ROOMS GROWTH GROSS FEE REVENUE ADJ. FREE CASH FLOW †ASSET-LIGHT EARNINGS MIX◊2 +55% Adj. FCF Conversion†3 3-Year Average 304K 373K 2022 2025 $808M $1,198M 2022 2025 $473M $527M
Slide 11: Quarterly Highlights
11 QUARTERLY HIGHLIGHTS H O T E L F L Ü E L A D A V O S
Slide 12: Quarterly operational and financial results
Footnotes: 1 Figures as of September 30, 2026. Growth rates represent year-over-year comparisons for the quarters ended September 30, 2025 and September 30, 2026. 2 Represents amounts attributable to Hyatt Hotels Corporation. 3 Net rooms growth for the trailing twelve months was 3.8%, or 3.9% exclud
Slide 13: Hyatt Full Year 2026 Outlook
A L I L A W U Z H E N 10% 11% Low Case High Case 13 HYATT FULL YEAR 2026 OUTLOOK 2026 OUTLOOK GROWTH VS. FULL YEAR 2025 LOW CASE HIGH CASE System-Wide Hote ls RevPAR◊ Growth 5.0% 5.5% Net Rooms Growth Approx. 6% Net Income 1 $240M $310M Gross Fees $1,320M $1,335M Adjusted EBITDA †2 $1,170M $1,200M A
Slide 14: Impact of 2025 asset sales to owned & leased segment Adjusted EBITDA
4 5 IMPACT OF 2025 ASSET SALES TO OWNED & LEASED SEGMENT ADJUSTED EBITDA † $203 $(73) $(5) $125 2025 Playa 2025 Legacy H Asset Sales 2025 Net of Dispositions 14 Estimated Value of Remaining Owned Assets1 Source Notes: Updated at YE, based on ER schedule Adjustments from sold owned and leased hotels
Slide 15: Earnings growth model drives free cash flow
Footnotes: 1 System-wide hotels RevPAR◊ growth includes comparable hotels. 2 Adjusted Free Cash Flow Conversion % calculated as Adjusted Free Cash Flow divided by Adjusted EBITDA. The Company's illustrative outlook for 2026 is based on a number of assumptions that are subject to change and many of w
Slide 16: Balanced capital allocation strategy enhances shareholder value
Footnotes: Invest in growth to increase shareholder value Return excess cash to shareholders Maintain an investment-grade profile BALANCED CAPITAL ALLOCATION STRATEGY ENHANCES SHAREHOLDER VALUE WE HAVE AND WILL CONTINUE TO: P A R K H Y A T T P A R I S - V E N D Ô M E 16
Slide 17: Capital returns to shareholders
Footnotes: 1 Fourth quarter dividend payable on December 7, 2026 to shareholders of record as of November 23, 2026. 2 Inclusive of dividends and share repurchases for the nine months ended September 30, 2026. 3 The Company expects to return capital to shareholders through a combination of cash divid
Slide 18: Committed to investment grade
Footnotes: Total debt and liquidity figures as of September 30, 2026. 1 Chart excludes $49 million of variable rate term loan, $17 million of floating average rate loan, $3 million of finance lease obligations, $28 million of unamortized discounts and deferred financing fees, as well as Hyatt’s revo
Slide 19: Hyatt purpose statement
HYATT We (1. for people so they can be their best.
Slide 20: Appendix
HYATT APPENDIX
Slide 21: References
21 References SLIDE 3: GLOBAL HOSPITALITY COMPANY FOCUSED ON SERVING THE HIGH-END TRAVELER Figures as of September 30, 2026. 1 Global brands inclusive of September 30, 2026 brand bar, displayed on slide 5. 2 Source: Smith Travel Research Global Census as of December 31, 2025. Luxury branded rooms as
Slide 22: References
22 References SLIDE 13: HYATT FULL YEAR 2026 OUTLOOK 1 Represents amounts attributable to Hyatt Hotels Corporation. 2 Reflects a reduction of $78 million in 2025 owned and leased segment Adjusted EBITDA to account for period of ownership of hotels acquired as part of the Playa hotels and the impact
Slide 23: Definitions
23 Definitions Adjusted Earnings Before Interest Expense, Taxes, Depreciation, and Amortization ("Adjusted EBITDA"): Adjusted EBITDA, which is a non-GAAP measure, is used throughout this Investor Presentation. We define Adjusted EBITDA as net income (loss) attributable to Hyatt Hotels Corporation pl
Slide 24: Definitions
24 Definitions Asset-Light Earnings Mix: Asset-Light Earnings Mix is calculated as Adjusted EBITDA from the management and franchising segment and distribution segment divided by Adjusted EBITDA, excluding overhead and eliminations. Our management uses this calculation to assess the composition of t
Slide 25: Definitions
25 Definitions Playa Hotels Acquisition: On June 17, 2025, the Company completed the acquisition of Playa Hotels & Resorts N.V. ("Playa Hotels" or "Playa"), a leading owner, operator, and developer of all-inclusive resorts in Mexico, the Dominican Republic, and Jamaica, for a purchase price of $13.5
Slide 26: Non-GAAP Reconciliations
Non-GAAP Reconciliations 26 (in millions) Three Months Ended September 30, Nine Months Ended September 30, 2026 2025 2026 2025 Net income (loss) attributable to Hyatt Hotels Corporation $ 58 $ (49) $ 206 $ (32) Contra revenue 18 34 58 69 Revenues for reimbursed costs (995) (903) (2,963) (2,734) Reim
Slide 27: Non-GAAP Reconciliations: 2026 Outlook
Non-GAAP Reconciliations 27 Source Notes: Linked to ER schedule (in millions) Year Ending December 31, 2026 Outlook Range Low Case High Case Net income attributable to Hyatt Hotels Corporation $ 240 $ 310 Contra revenue 75 75 Reimbursed costs, net (a) 100 80 Stock-based compensation expense (b) 62 6