Revenue during the quarter went down marginally by 1.98 percent to $1,087 million from $1,109 million in the previous year period. Gross margin for the quarter contracted 93 basis points over the previous year period to 62.01 percent. Operating margin for the quarter stood at negative 32.47 percent as compared to a negative 31.47 percent for the previous year period.

However, the adjusted EBITDA for the quarter stood at $172 million compared with $179 million in the prior year period. At the same time, adjusted EBITDA margin contracted 32 basis points in the quarter to 15.82 percent from 16.14 percent in the last year period.

Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, "Our business continues to have good momentum and we believe were well-positioned for continued growth in 2017. In 2016, Adjusted EBITDA grew approximately 5%, fueled by systemwide comparable RevPAR growth of 2.5%. Excluding the impact of foreign exchange, Adjusted EBITDA grew approximately 6%. For 2017, we expect systemwide comparable RevPAR growth of approximately 0% to 2% and Adjusted EBITDA growth of approximately 3% to 7%, in constant currency and before the impact of transactions."

For fiscal year 2017, Hyatt Hotels forecasts net income to be in the range of $94 million to $129 million.