Hyatt Hotels Q2 Profit Down - Quick Facts

(RTTNews) - Hyatt Hotels Corp. (H) reported that its net income attributable to the company for the the second quarter of 2015 declined to $40 million, or $0.27 per share, from $74 million, or $0.48 per share, in the second quarter of 2014.

Adjusted for special items, net income attributable to the company dropped to $41 million or $0.28 per share, from $72 million, or $0.47 per share in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Comparable owned and leased hotels RevPAR increased 1.5% (4.8% excluding the effect of currency) in the second quarter of 2015 compared to the second quarter of 2014.

"Moving forward, we continue to have a positive outlook as we remain on track to deliver on our long-term strategy. We expect operating performance at our hotels in the United States to remain strong from continued economic growth and strong group trends, as well as relatively low levels of new supply growth in most markets," said Mark Hoplamazian, president and chief executive officer of Hyatt Hotels.

The company still expects to open approximately 50 hotels in 2015.

Capital expenditures for 2015 are now expected to be approximately $320 million, compared to previous expectation of approximately $350 million.