Hyatt CFO on Global Shocks: Wealthy Travelers Aren’t Canceling Trips

Hyatt’s wealthiest guests are rerouting their travel plans rather than canceling them, the company’s chief financial officer said Wednesday, a dynamic that has insulated the hotel giant from two simultaneous geopolitical shocks.

Speaking at a JPMorgan investor conference on Wednesday, CFO Joan Bottarini said the war in Iran has dragged down occupancy across Hyatt’s Middle East portfolio and that cartel violence in Mexico triggered a short burst of cancellations in late February. 

But in both cases, the damage has been contained, she said. Hyatt’s fee revenue from the Middle East accounts for less than 5% of its global total, Bottarini said. And customers who rec