(Bloomberg) — Hyatt Hotels Corp. swung to a loss as cratering travel demand hammered the hotel chain.Hyatt reported a loss of 35 cents per share, worse than analysts expected. Revenue per available room, which combines pricing and occupancy, decreased 28% in the quarter — a steep fall considering that travel restrictions didn’t take full effect in most of the world until March.Hyatt has raised capital through a bond sale and cut costs by closing hotels and furloughing workers. Chief Executive Officer Mark Hoplamazian said in a statement that the company’s “existing liquidity provides sufficient capacity to cover at least 30 …read more
Source:: Yahoo Finance
