Hyatt Stocks fell as the company says in the election, and Jewish holidays were heavy in fourth quarter results

Hyatt Hotels shares fell as the business said it was injured in the fourth quarter and on the Holy Day.

Hyatt (h) The latest financial results were reported on Thursday, Thursday, which was worse than Wall Street’s expectations. The news has dropped its shares by nearly 11% in early trading.

Part of the reason for this is the company: Demand for groups affected by the election – other travel agencies point out in their own outcomes – but also “changes in Jewish holidays.”

Rosh Hashanah and Yom Kippur occurred in early October last year after falling in September or the third quarter of 2023.

“Grouproom revenues remained flat in the quarter, increasing 5% when adjusting the timing of the Jewish holidays in October and the US election in November,” a spokesman for Hyatt said on the company’s revenue calls. The CEO of Mark Hoplamazian said. “The group business is usually lower during holidays,” he added.

Hyatt reported that Q4 has been adjusted Earnings per share (EPS) $0.42 with revenue of $1.6 billion. Analysts voted by the visible Alpha were expecting $0.71 and $1.65 billion, respectively.

Hyatt stocks have risen about 14% over the past 12 months.

Update – This article has been updated with the latest stock price information and Hyatt comments.

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