Hyatt Hotels Corporation (H) Increased on Improved Business Demands

Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Fund had a good year this time. The fund returned 7.99% in the fourth quarter, compared to S&P’s 11.69% return and Russell 1000 Value’s 9.50% return. The fund had 24.49% yearly returns compared to 26.29% and 11.46 % returns for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Longleaf Partners Fund featured stocks such as Hyatt Hotels Corporation (NYSE:H) in the fourth quarter 2023 investor letter. Headquartered in Chicago, Illinois, Hyatt Hotels Corporation (NYSE:H) is a hospitality company. On January 23, 2024, Hyatt Hotels Corporation (NYSE:H) stock closed at $131.18 per share. One-month return of Hyatt Hotels Corporation (NYSE:H) was 0.64%, and its shares gained 17.01% of their value over the last 52 weeks. Hyatt Hotels Corporation (NYSE:H) has a market capitalization of $13.53 billion.

Longleaf Partners Fund stated the following regarding Hyatt Hotels Corporation (NYSE:H) in its fourth quarter 2023 investor letter:

“MGM Resorts & Hyatt Hotels Corporation (NYSE:H) – Hospitality companies MGM Resorts and Hyatt were both strong performers in the fourth quarter and for the year, outperforming expectations that the post-COVID travel rebound would ease in 2023. Hotel operator Hyatt consistently reported strong results in the year and guided mid-to-high single-digits of revenue per room available (RevPAR) growth in the back half of the year, driven by a continued recovery in Asia Pacific and ongoing improvements in group and business demand. Hyatt announced the value-additive purchase of UK booking company Mr & Mrs Smith and bought back discounted shares at a steady pace.”

Photo by Upal Patel on Unsplash

Hyatt Hotels Corporation (NYSE:H) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Hyatt Hotels Corporation (NYSE:H) at the end of third quarter which was 28 in the previous quarter.

We discussed Hyatt Hotels Corporation (NYSE:H) in another article and shared billionaire investor Mason Hawkins’ top stock picks. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 25 Cheapest Beach Towns to Retire in The World
• 40 Highest Paying Jobs Without a Degree in the US
• 13 Best Grocery Stocks To Buy Now

Disclosure: None. This article is originally published at Insider Monkey.