us can full my industry earnings has today been years very and thank expressing Good for by XXXX. World rapid best an unrelenting with begin but ever members and in of unprecedented an to best. they we our discovered I'm call. adapted deepest purpose: Hyatt for environment this even morning, joining Noah. to and ever-changing uneven quickly our successfully way XXXX gratitude for conference most The demand, customers faced, year I'd disruption proud continuously Thanks, in this to last new an a to fourth by quarter -- getting level of the our Hyatt adapted all Hyatt as challenging like family. so be every closer and of of very for focus recovery by care you today family everybody has people environment. on We've while maintaining to the two of beginning the have responded sources and dynamic member the followed adapts their XXXX, to
strength. have position in tremendous the date, We pandemic emerged of we've successfully a not to only navigated
the transformative As positioned I reasons. reflect better XXXX year, on was Hyatt since this several for went fundamentally most public. We're past and stronger
traveler. we It asset-light we and on First, Apple Leisure is our of on us. significantly expands the that was It our nearly strategy history of biggest offerings. as doubles in for ALG it to in high-end ALG importantly, Hyatt. $XXX driven XXXX launched the refer dispositions, Europe. the Group ALG, I will And completed growing entirely owned is platform our in by acquisition focuses an new most significantly the from presence we proceeds resort acquisition hotel schedule. of with And of demand. asset the commitment. billion event that to our of billion completion commitment transformative increases mix million ahead A great momentum a EBITDA $X leading approximately resilient that disposition second of gross highly $X.X leisure realized
the further end fee-based reach to creating long-term Hyatt earnings expect value. XX% by shareholder XXXX, of We
rooms year another a in reached for and net record new growth had rooms of industry-leading we our Third, pipeline.
year exceptional direct with of an significant levels these importantly, operating revenue of preference, channel Lastly RevPAR and in owner World as mix, metrics had demonstrated internal dimensions. members outperformed expectations They of excellence every namely XXXX drive in advancements exceeded Hyatt index, one that the by owner sentiment. and satisfaction all number key very we and
XXXX Given momentum unwavering to about I all from that we leisure with remain travelers year. performance we optimistic Omicron accomplished and some business built, this we've very seen impact demand on and connect and travel in resilient remain desire alike. the have Despite on, having an early
drive portfolio well that Leisure and XXX from exceptional Group metrics response our as Apple resorts are key forward, today. owners to I'm Looking has of guests, and pacing our ahead The be of by thrilled performance continues that expanded colleagues expectations.
ALG Let you. me with highlights some share
First, XXXX levels Collection above of half RevPAR was AMR over at hotels for back XXXX net package properties. comparable the
demand translated guests company. a Collection as surging upgrades, new of into Unlimited referred at AMR new record contracts, Second, of the members AMR's in record XXXX, Vacation hotels UVC. for a signed XX,XXX including becoming level to Approximately were Club
robust the of business financial and and technology ALG year the and for optimism advance that is through provided. expectations the the and our improved for of translated activity underwriting result XX% profitability for materially a our where headed. business business into that Vacations was XXXX Third, margins this on quality serves service ALG the revenue as basis optimization All ahead
cash will net revenue for generated assessing which net revenue expand as these in found GAAP have call we factors and contributed on the EBITDA and on to of our and months of we release contracts. Looking $X supplemental ALG Hyatt; change it's million excluding deferred a the in include of Vacations part segment results $XX When deferrals for million approximately described change earnings website. two operating business. Joan and net and and the the flow in memberships. the at in in UVC adjusted of financed expense the expense performance, moment ALG flow critical elements these times further It's large presentation experiences recognition Vacations GAAP of note capital that the timing to at is material. the that net cash seasonal primarily important between due The to business adjusted EBITDA working difference are and fluctuations the
During in increased comparisons. quarter. the and assess was closely of and the the $XXX was deferrals which with contracts flow economic of base sum net the fourth $X period, adjusted million increased program was to performance compensation two quarter; net tracks creation the cash We and addition which business, $XX three sum value in million and month more which with the the ALG's generation provides period-to-period financed meaningful the deferrals of million the aligns contracts these financed more quarter; our in business on fourth $X $XX to adjusted EBITDA our for million items: colleagues net million. net contribution in $X EBITDA, incentive million financial This
more resorts building Looking ahead the about XX% challenging January, to we're Further, levels the we XX% we to momentum levels. for excited in see approximately environment January RevPAR in XXXX, XXXX from XXXX of to of that was package comparable XXX% look levels Despite ALG the at revenue of as for package Americas gross in net us. XXXX mid-February. date month accelerated of it booked periods, than future through
originating positive Cancun sentiment is also United bolstered increased in capacity nearly strong States XX% is up quarter, Our by with XX%. in first which the airlift the from capacity up
in touch the Lastly, integrating progress the made on I to significant briefly ALG company. acquiring two the want months since we've
with Hyatt's on many have initiatives drive across to with AMR similarities our new starting regions; short summer and Europe aligning and at with leveraging follow. us quickly, We've milestones Americas, more deals terms in allowed the very to this staying time value-creating leads collaboratively development including members progress with in opportunity a into to in Our collaborate term cultural of teams ALG future. our distribution come. cost to mobility to to hotels Collection owners drive OTAs brand lastly, develop and achieved significant value expand for benefits amount benefits planning the opportunities for the third the parties thrilled We're identifying colleagues, of improve Hyatt will of for of organizations; across we and member talent the and owners; deliver guests to for areas to continue and near our World
to occupancy. RevPAR XX% an XX% to Turning third entirely of X% recover quarter we've than above XXXX to down business; dissipating. encouraged in latest been pace, lower We're in the compared countries. with slightly the XXXX the quarter only Hyatt compared as our to signs shows the encouraging midweek restrictions less reached rates for trends RevPAR system-wide almost system-wide many continues on in remain for levels fourth comparable in leisure transient despite at levels that reaching differential remain no strong fourth Leisure of business transient that XXXX driven experiencing quarter. by demand RevPAR levels legacy basis of the travel The a place
remarkable that fourth speaks of to We and encouraged same this revenue that by pent-up just the more the groups from nearly with and are our period Americas confident trend we the quarter at service fourth the revenue had of quarter to full which December quarter improved as XXXX. booked hotels hotels actualized in in continue to XX% This in the will compared in and XX% levels, month improvement exists remain XXXX. It's stayed into from the convene that at demand XX% levels. eclipsing XXXX of XXXX third group managed our also the
XXXX for As for the compared revenues business quarter XX% a the in were with fourth and levels with to of accounts closer lead system-wide strengthen steady our XX% quarter transient, business demand also the improving progress XXXX medium to levels XX% Small enterprise third and the in levels also quarter. to group on XXXX we continues approximately recovery continues travel basis. saw of to of which to larger
perspective, continue fourth XXXX driven more employees from travel outsized velocity quarter, geographic a almost the levels experienced in XX% in office the just improve increases. momentum demand. October over in these the primarily leisure to to notable levels XX% From United States expect and December, as to by We of to return improving
by of RevPAR recovery began, recovery are where Expo more the RevPAR levels acceleration we of also nearly had limited regions period only We fourth a East record and notable world. We're Additionally, December; in including the the all thrilled restrictions. seen in Middle more to start fourth RevPAR Asia, a quarter, quarter, from to experiencing primarily many reached which Southeast in that demand travel the XX% the due XXXX pandemic performance driven Dubai. saw of see first to in progress the since diverse India had XXXX parts easing in we in meaningfully
negative RevPAR impact in As January variant. as we the in the lagged look compared January from levels Omicron by experienced of December. XX% System-wide XXXX driven a RevPAR finished to in December, into at we primarily levels XX% XXXX,
for Bookings this to Americas notable for grow groups to and XX% March with at and cancellations limited nearly of months the rebooking managed of those almost have been X/X date later for for a January continue it's year. strong that onward of a February our For group hotels, and XXXX exclusively pace.
XX% up period than seeing In RevPAR fact, bookings acceleration full the with this the for geographic events and ahead. And group January same pace XX% January, XXXX. is XXXX. in at the will in significant were areas comparable be and activity anticipate new booking group levels and key of our strong across XXXX at in of held time year which year versus that includes gross headwind Overall, this XX% group tentative a our we're the business both months majority transient for in weeks in more
X to that pleased in XX of factoring I'm a investor total legacy When supplemental growth the in greater Hospitality from Hyatt the rooms our ALG, presentation, growth offerings growth acquisitions Slide have legacy jumps very strong to resort have Two transformed X.X%. acquisition Roads growth; with report our XXXX of our how of net to and contributed our lifestyle XX.X% rooms the In a Hyatt XX,XXX mix quality portfolio which hotels net time. and with we in recent new in for rooms paired truly to our a our short Hyatt highlight we of on much of luxury, the period record Turning ALG year. organic of
by grew is the growth only just nearly years. growth. XX% What's over count rooms, composition four room the important particularly XXX,XXX total of Our in
number we our As you'll and we you have of our resort have of years to our luxury the have number tripled we rooms. the compare supplemental ago, rooms highlight on Slide of lifestyle portfolio of investor that rooms, portfolio if four today note the number presentation, we XX tripled doubled
in Our growth key notable share has resulted global areas. in gains market in
of share XX% luxury to For the largest truly that our thereof, quality global proud hotel, a terms all of portfolio now resort XX% which portfolio variety. locations global the the branded second world; makes and or luxury am world. portfolio across luxury lifestyle us example, in very over either rooms a or hotel the global I in largest differentiated locations, of a in XX% represents our in rooms a resort providing is of both combination a branded
In of members. members demand most which areas pronounced portfolio Hyatt tripled notice. to precisely continue of taken growth guests, our We in see World XXXX of millions number where the loyal the for new and today. we'll of million over since to particularly in members of have are significant of have incremental as members XX to we benefit owners. of our compelling growth members we industry-leading our in of continue World our The nearly cost as pipeline our grew anticipate legacy guests, has channels program Hyatt's program frame. of our The cost World introduce Hyatt channels. portfolio expanded today providing ALG total Our We're booking mix is lower fourth most with distribution members Hyatt to directly World quarter, pipeline Hotels we've the The third-party the open expanded is over World through to rooms. than for to significantly and rooms the the benefit time of is Hyatt transformation AMR thrilled owners the XXX,XXX the our expansion this Hyatt also of Hyatt and materially of
than the a XX% rooms XXX,XXX pipeline more ALG expansion over last in XX% XXXX. X,XXX added we and a through resulting total Additionally, year since rooms, expansion acquisition, of a
to transactions to over on I provide before it Finally, brief turning Joan. update want a
we owned XXXX, have sales. in mentioned, proceeds I very As gross million active realizing of a year $XXX asset from
for we joint franchise sold long-term quarter contract In room, resulting net a portfolio. venture fourth sales we ownership an hotels, the of owned them alone, five assets, price each being properties, four $XX of in the in to joint management addition Hyatt. quarter to our for select in a our had $XXX,XXX average service very In we wholly interests of of per million hotel. proceeds active retained or And venture
provide announce EBITDA wholly owned approximately stages activity of implying on that they announced transactions, XXx approximately We to aggregate a to in hotels the million, early $XXX two $X to are disposition for look will above, an outlined in morning made more we these for In addition our now I'll Hyatt family we reiterating significant XXXX billion the Should the I'm conclude toward stronger pleased for multiple sales over advanced these my is commitment sell-down two other of updating my of areas sell-down and levels. Hyatt you. future multiple asset our close to over in We progress Joan, we much plans headed. solid of it in you prepared forward mark XXXX the operating August. successfully amount Joan and a turn progression and remarks and I'll on this progress details we're gratitude to relative direction agile to company the program. results. enthusiasm to additional the by to today. and