Hyatt Hotels Corp. reported continued softness in its all-inclusive portfolio during the third quarter, with the segment's systemwide net package RevPAR decreasing 0.9% compared with the same period in 2023.

From Travel Weekly, the company disclosed in its Q2 earnings report that its Inclusive Collection portfolio enjoyed "a really strong" first quarter with double-digit net package RevPAR, but that was followed by a more modest 3% increase in the second quarter.

The Q3 decline was particularly pronounced in the Americas region, where the company's Inclusive Collection properties saw net package RevPAR fall 5%, due primarily to hurricane impacts. (Hyatt defines net package RevPAR as including revenue derived from the sale of package revenue comprised of rooms revenue, food and beverage and entertainment.)

Despite these challenges, Hyatt CEO Mark Hoplamazian told analysts during a Thursday earnings call that forward bookings show promise for the segment, with Americas all-inclusive resorts' pace up 10% over the festive period as well as up over 20% for the first quarter of 2025.

The quarter's all-inclusive slowdown comes as Hyatt continues to expand its footprint in the space, with the company most recently announcing a 50-50 joint venture with Spanish hospitality company Grupo Pinero, which is owner of the all-inclusive Bahia Principe Hotels & Resorts brand. The partnership will add 23 resorts to Hyatt's existing portfolio of more than 120 all-inclusive resorts across Mexico, the Caribbean, Central America and Europe.