Hyatt Stock Falls as Company Says Election, Jewish Holidays Weighed on Q4 Results

Hyatt Hotels shares decreased as the company said that work in the fourth quarter had suffered the presidential elections-and the upper holy days.

life (HOn Thursday, I reported her latest financial results, which became worse than Wall Street expected. The news sent its shares to approximately 11 % in early trading.

Part of the reason, the company said: The collective demand affected by the elections – something that other travel companies have noticed in their results – but also “the transformation of Jewish holidays.”

Roche Hashna and Kippur day in early October last year fell after her fall in September, or in the third quarter of 2023, which could have kept more Jewish travelers to monitor holidays during this period.

“Group Rooms Revenue Was Flat in The Quarter and Was Up 5% where adjusting for the time of the jewish Holidess in October and the us elections in Nowember,” CEO Mark Hoplamazian SAID On the Company's A. Ings Call, According to a Hyatt Spokesperson, Who He added, “Usually we see low collective actions during the holidays.”

The Q4 Hayat mentioned its amendment Arrow profits (EPS) From $ 0.42 on $ 1.60 billion in revenue. Analysts who have been polled by Alpha visible $ 0.71 and $ 1.65 billion, respectively.

Hayat shares have increased about 14 % over the past 12 months.

Update – This article has been updated with the latest stock price information and a life suspension.

Read the original article on Investopedia