01:54 PM EST, 02/13/2025 (MT Newswires) -- Hyatt Hotels ( H ) on Thursday posted surprise declines in its fourth-quarter earnings and revenue, sending the hospitality company's shares tumbling intraday.

Adjusted earnings slumped to $0.42 a share for the quarter through Dec. 31 from $0.70 a year earlier. Analysts polled by FactSet were looking for $0.75. Revenue decreased to $1.60 billion from $1.66 billion, which was the consensus in a FactSet poll.

Hyatt shares were down 11% in Thursday afternoon trade.

The management and franchising segment's adjusted earnings before interest, taxes, depreciation, and amortization rose 7.2% to $219 million. The company said the results reflected strong business and leisure transient travel, while group demand was affected by the shift of the Jewish holidays and the US presidential election in November.

Fourth-quarter comparable system-wide hotels revenue per available room, or revPAR, grew 5%, bringing the full-year print to 4.6%.

"Group rooms revenue was flat in the quarter and was up 5% when adjusting for the timing of the Jewish holidays in October and the US elections," Chief Executive Mark Hoplamazian said on an earnings conference call, according to a FactSet transcript. "We continue to see high-end consumers prioritizing travel as RevPAR growth was strongest among our luxury brands in both the quarter and for the full year."

For this year, Hyatt projects comparable system-wide hotels revPAR growth at 2% to 4% on a constant currency basis, while net rooms growth is pegged at 6% to 7%. For 2024, the company reported net rooms growth of 7.8%.

"We expect revPAR in the (US) to grow near the midpoint of our system-wide outlook range, driven by strong group and business transient demand, but expect to see a continuation of elevated levels of outbound international travel," Chief Financial Officer Joan Bottarini said on the call. Although trends in China have started improving, "visibility remains very short term," she said.

The company expects first-quarter adjusted EBITDA to be negatively affected by about $40 million due to the real estate dispositions completed last year, Bottarini told analysts.

On Monday, Hyatt agreed to acquire Playa Hotels & Resorts ( PLYA ) in a deal worth around $2.6 billion.

Price: 143.49, Change: -18.62, Percent Change: -11.49