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Feb. 19, 2020, 5:47 p.m. EST

Hyatt posts higher Q4 profit after fee growth

By Kimberly Chin

Hyatt Hotels Corp. reported higher earnings for the fourth quarter spurred by growth in fees from new and up-and-coming systemwide hotels.

Hyatt's quarterly profit was $321 million, or $3.08 a share, up from $44 million, or 40 cents a share, a year earlier. Adjusted profit was 47 cents a share for the quarter, down from 62 cents a share in the year-ago quarter.

Analysts polled by FactSet were expecting adjusted earnings of 24 cents a share.

Comparable system-wide revenue per available room (RevPAR) fell 0.5%, dragged down by political unrest in Hong Kong and the timing of Jewish holidays. At comparable-owned and leased hotels, RevPAR rose 1.4%.

Last month, Hyatt Hotels said it expects to open about 50 full- and select-service hotels in 2020 and more than 140 hotels in the Americas by 2022.

The company said it opened 72 hotels in fiscal 2019.

Write to Kimberly Chin at kimberly.chin@wsj.com

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