Revenue during the quarter grew 9 percent to $1,187 million from $1,089 million in the previous year period. Gross margin for the quarter contracted 130 basis points over the previous year period to 62.43 percent. Total expenses were 93.26 percent of quarterly revenues, down from 93.76 percent for the same period last year. This has led to an improvement of 50 basis points in operating margin to 6.74 percent.

Operating income for the quarter was $80 million, compared with $68 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $228 million compared with $194 million in the prior year period. At the same time, adjusted EBITDA margin improved 139 basis points in the quarter to 19.21 percent from 17.81 percent in the last year period.

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "I am pleased with our first quarter results which reflect the strength of the Hyatt brands and demonstrate upward momentum in our business. In the quarter, Adjusted EBITDA grew approximately 18%, driven by systemwide comparable RevPAR growth of nearly 5% and the continued expansion of our portfolio, including earnings from recently opened and acquired properties."

For fiscal year 2017, Hyatt Hotels Corporation forecasts net income to be in the range of $123 million to $159 million.