Hyatt Hotels Corp.’s business travel demand in 2024 has been “extraordinarily encouraging,” with systemwide first-quarter revenue from the sector up 6 percent year over year, with some segments up even higher, president and CEO Mark Hoplamazian said Thursday during an earnings call. 

Global business transient revenue “increased approximately 6 percent in the quarter with strength in both January and February, and we saw similar trends in the U.S., a clear sign that business travel continues to recover,” he said.

April systemwide business transient revenue was up 21 percent year over year, Hoplamazian said, although that figure was inflated by the shift of the Easter holiday from April last year to March this year.

Still, Hoplamazian shared other statistics to illustrate the strength of the business travel segment. “Business transient, frankly, in the first quarter, into the second quarter is extraordinarily encouraging,” he said. “Our business transient hotels were up 15 percent, almost 16 percent in the first quarter. Convention hotels were up about 11 percent, just as a hotel type. New York City was up 19 percent. San Jose and Seattle are really going strong. Why? Because technology transient, business transient, was up 30 percent in the first quarter.”

It wasn’t clear if Hoplamazian’s figures were year-over-year revenue, and Hyatt didn’t immediately return a request for clarification, but on the call he said, “these numbers are staggering.”

First-quarter group revenue increased 6 percent year over year, Hoplamazian said, with the May-through-December booking pace up 7 percent from 2023. He called the segment “the gift that keeps on giving.”

Q1 Metrics

Hyatt’s systemwide first-quarter revenue per available room increased 5.5 percent year over year to $131.86, while average daily rate increased 2 percent to $202.33 and occupancy increased 2.2 percentage points to 65.2 percent.

In the United States, RevPAR increased 0.2 percent year over year to $132.68, while ADR dropped 0.4 percent to $205.41 and occupancy increased 0.4 percentage points to 64.4 percent. Hyatt CFO Joan Bottarini said U.S. RevPAR increased about 2 percent when the effect of the Easter shift was excluded. 

Hyatt maintained its outlook for a 3 percent to 5 percent year-over-year increase in full-year 2024 RevPAR.

The company’s first-quarter revenue increased to $1.71 billion from $1.68 billion one year prior. Net income increased to $522 million from $58 million in Q1 2023, a figure boosted by sales this year of Hyatt properties in Green Bay, Wis., Aruba and Zurich. 

Net rooms increased 5.5 percent year over year to more than 323,400, while Hyatt’s pipeline increased 10 percent to more than 129,000 rooms.

RELATED: Hyatt Q4 performance

1000 Mile Travel Group (1000MTG) announces the launch of a groundbreaking travel booking solution, 1000Access, alongside travel technology partner, Sabre. Integrated with the Sabre Global Distribution System (GDS), and utilizing Sabre Red Launchpad technology, this innovative platform is set to redefine the industry standard by providing travel advisors with a seamless travel booking experience.

Providing a consumer-grade user interface, 1000Access makes it easy for independent travel advisors, to book trips quickly. At launch, 1000MTG travel advisors can shop, book and ticket traditional air content, NDC offers, and low-cost carrier XML options. Over time, 1000MTG will activate additional capabilities, including hotel and ground transportation content.

“1000Access represents a paradigm shift in booking travel, blending cutting-edge technology with personalized support to revolutionize the travel advisory booking experience,” says Ben Ross, 1000MTG Co-founder and CEO.

1000Access empowers advisors with an array of unparalleled benefits, including:

• 24/7 automated ticketing capabilities
• Varying and transparent commission rates
• Access to a dedicated Global Fares Desk Manager
• Regional Team Leaders supported by a ticketing team
• Comprehensive after-hours support and phone assistance for urgent same-day departures
• Dedicated assistance from a 1000Access Account Manager during the first month of trading
• Streamlined reporting for Virtuoso members

“Customer-centricity and collaboration are part of Sabre’s DNA. We are proud to partner with 1000MTG to power its 1000Access application. As an early adopter of Sabre Red Launchpad, 1000MTG provided critical insights that helped us go from concept to working code in mere months,” said Kathy Morgan, Vice President of Product Management, Distribution Experience, Sabre Travel Solutions. “As one of our early adopters, we look forward to incorporating additional feedback from 1000Access users to refine our offering before it’s generally available later this year.”

1000Access will be available to a wide audience, including: 1000MTG travel advisors who receive the platform as part of their membership; Virtuoso members; and mid-sized agencies in North America, with other regions to follow.

“Being a part of Virtuoso’s carefully curated list of Air Preferred Partners allows us to offer our clients an air solution that’s tailored to meet their agencies’ specific requirements, regardless of whether they join 1000MTG or not,” says Nicola Veltman, 1000MTG Co-founder and CEO.

“With a commitment to upskilling advisors, 1000Access offers extensive training and support resources, including new member implementation meetings, tool training sessions, and ongoing access to support videos, guides, and webinars,” says Christy Shafer, 1000MTG’s Senior VP and General Manager, North America.

With plans to launch into the United Kingdom and Australia later this year, and with the roll out of additional features including VIP White Glove Service, plus chatbot functionality, 1000Access is ‘air made easy’.

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.