Ladies and gentlemen, thank you for standing by, and welcome to the Hyatt First Quarter 2020 Earnings Conference Call. Good morning, everyone, and thank you for joining us for Hyatt's First Quarter 2020 Earnings Conference Call. On the call today are Mark Hoplamazian, Hyatt's President and Chief Executive Officer; and Joan Bottarini, Hyatt's Chief Financial Officer.

Hilton (HLT) witnesses gradual increase in demand across China. Hilton has 255 hotels in operation in the Greater China region.

Travel stocks, including Expedia (NASDAQ: EXPE), Tripadvisor (NASDAQ: TRIP), Hyatt Hotels (NYSE: H), and Marriott International (NASDAQ: MAR), were climbing today on enthusiasm about a broader economic recovery and new entrants in the race toward a vaccine. At the same time, the S&P 500 was trading 1.7% higher.

In recognition of the extraordinary care they provide to their community, American Airlines (NASDAQ: AAL) and Hyatt Hotels Corporation (NYSE: H) today announced American Airlines and Hyatt will award thousands of healthcare professionals from NYC Health + Hospitals/Elmhurst three-night complimentary vacations to help them recharge and reconnect with their loved ones, once they are able to take time for themselves.

The world’s biggest hotel companies are banking on brand conversions to fuel growth out of the coronavirus downturn in travel. But changing flags on a property isn’t always a silver bullet to drive new revenues. Travel demand plummeted in the first quarter while coronavirus spread around the world. But hotel executives still saw opportunities amid […]

Saluting those at the epicenter of America's COVID-19 epidemic, Hyatt Hotels (NYSE: H) is partnering with American Airlines (NASDAQ: AAL) to provide more than 4,000 doctors, nurses, and others from NYC Health + Hospitals/Elmhurst with free round trips redeemable later in the year. Every worker at the healthcare facility is included in the specially arranged package. The trips will involve round-trip American Airlines flights to and from select destinations in both the United States and the Caribbean islands.

The Federal Reserve is finally kicking off its purchases of corporate bond exchange-traded funds on Tuesday, marking the beginning of its historic intervention into a market that sits traditionally outside of the central bank’s influence. The Fed’s purchases are aimed at supporting the flow of credit as corporations look to survive the hit from the COVID-19 pandemic, which has upended supply chains, hammered consumer spending and put millions out of work. Since large U.S. businesses often rely more heavily on corporate bond markets than banks to borrow money during times of crises, the Fed’s action looks to arrest financial turmoil that reared up in mid-March and limit the economic fallout from the coronavirus.

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Hyatt Hotels Corp (H) said it will need to lay off 1,300 workers globally as it struggles with the “historic” plunge in travel demand induced by the coronavirus pandemic and expects a slow recovery of the industry.Shares in Hyatt have almost halved this year and were trading little changed at $49.94 in morning U.S. trading.Four-star analyst Carlo Santarelli at Deutsche Bank slashed the stock’s price target to $54 from $86, while maintaining a Hold rating.“While we see H in a strong liquidity position, with plenty of cash on hand and revolver capacity plentiful, concerns around the volatility of the Owned and Leased Hotels (O&L) segment and the potential for stunted progress towards H's shift towards a more asset light model keep us at Hold", Santarelli wrote in a note to investors.The rest of Wall Street analysts is also more on the fence when it comes to Hyatt’s stock. The Hold consensus rating consists of 10 Holds and 2 Buys. The $56.31 average price target means investors could be bracing for 13% upside in the shares in the coming 12 months. (See Hyatt stock analysis on TipRanks)Since the start of the COVID-19 pandemic, Hyatt has taken numerous actions in an effort to meet the challenges the industry is facing including reductions of company-wide expenditures.“COVID-19 has thrown our industry into unknown territory,” said Hyatt’s President and CEO Mark Hoplamazian. “While parting ways with our colleagues is excruciating, we must be sensitive to commercial realities so we can continue to fulfill our purpose of care over the long term – through this pandemic and for what lies beyond.”The hotel chain said that it will also restructure roles across its global corporate functions, beginning June 1. As part of the effort, it will lower salaries for senior management, board members and all employees, while the staff who are being laid off will be eligible to get severance pay.“Unfortunately, with increased visibility into the effect that the pandemic is having on the hospitality industry, it has become apparent that additional measures are necessary to meet this unprecedented challenge,” the company said.Related News: Peloton Shares Increase on 1 Million Fitness Subscriber Milestone Tesla’s Elon Musk to Reopen California Plant Despite Coronavirus Restrictions Twitter Ramps Up Fight Against Misleading Covid-19 Information More recent articles from Smarter Analyst: * Royal Caribbean Warns Of Q2 Loss, Sees Sailings Suspended Until July 31 * Inovio Pops Almost 10% on ‘Positive’ Preclinical Results For Its Covid-19 Vaccine * Clorox Bumps Up Dividend By 5%; Shares Rise In Pre-Market * Urban Outfitters Reports Slow Quarter, Predicts More Dramatic Sales Decline in Upcoming Quarter

While the terminations are referred to as "layoffs," the press release refers to the employees' eligibility to receive severance pay, making it clear these are permanent layoffs and not simply more furloughs. Back in March, Hyatt furloughed or cut pay for approximately two-thirds of its workforce, responding to catastrophically nosediving demand for hotel rooms during COVID-19's near-shutdown of global travel. Now, however, Hyatt notes the "slow pace of recovery" as calling for even more drastic financial measures to help it survive.

Hyatt leadership is watching select Asian markets navigate the early phase of coronavirus recovery to gauge how the rest of the world will return to some degree of operational normalcy. A third of Hyatt’s hotels around the world have suspended operations due to declines in occupancy and travel demand during the coronavirus pandemic. But China […]

Hyatt said it had also cut pay for senior management, board members and all employees in corporate offices as part of a restructuring, adding that the staff who were being laid off would be eligible for severance pay. "Due to the historic drop in travel demand and the expected slow pace of recovery, Hyatt has made the extremely difficult decision to implement layoffs and restructure roles across its global corporate functions, beginning June 1, 2020," Hyatt said in a statement.

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One of the largest U.S. lodging real estate investment trusts expects leisure travel to bounce back from the coronavirus downturn in travel first, but the company is still banking on business group bookings. Host Hotels & Resorts, owner of hotels like the New York Marriott Marquis and the Manchester Grand Hyatt San Diego, lost $630 […]

Hyatt Hotels will slash 1300 jobs globally starting June. The job cuts are the latest blow to the hospitality and travel industry as the pandemic pummels demand and people stay home. Hyatt is already cutting pay for senior managers, board members and all employees as part of a restructuring. It said it now needs to take additional measures, citing "the historic drop in travel demand and the expected slow pace of recovery." The layoffs add up to a little over 2 percent of Hyatt’s 55,000 employees. Laid off staff, it said, would be eligible for severance pay. The announced cuts come one week after Hyatt reported a quarterly loss of more than $100 million and the suspension of its dividend and share buyback program. The hotel industry estimates the outbreak is causing it to lose nearly one-and-a-half billion dollars in revenue every week.

Q1 2020 Hyatt Hotels Corp Earnings Call

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Marriott International's (MAR) first-quarter results hurt by sharp decline in RevPAR and occupancy rates owing to the coronavirus pandemic.

The world’s largest hotel companies expect independent hoteliers to flock to flag affiliations and their accompanying global reach during the coronavirus recovery to rebuild business. Don’t hold your breath, says an organization representing boutique hotels. The Boutique Lifestyle Leaders Association and partner organization StayBoutique launched this week the BoutiqueStrong campaign and council to provide boutique […]

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