Shares of Hyatt Hotels Corp. H, +0.40% fell more than 6% in the extended session Wednesday after the hotel operator reported a much wider-than-expected quarterly loss, saying it expects to benefit from the “strengthening demand environment ahead” especially for high-end travelers. Hyatt lost $29 million, or 26 cents a share, in the fourth quarter, compared with a loss of $203 million, or $2 a share, in the fourth quarter of 2020. Adjusted for one-time items, the hotel chain lost $2.78 a share. Revenue rose to $1.08 billion from $424 million a year ago. Analysts polled by FactSet expected Hyatt to report a loss of 17 cents a share on sales of $1.08 billion. “The performance of our core business continues to strengthen, fueled by recovering demand and excellent operational execution,” Chief Executive Mark S. Hoplamazian said in a statement. Shares of Hyatt ended the regular trading session up 0.4%.
