Hyatt Hotels (H -0.47%) shareholders outperformed a strong market last month. The stock rose 18% compared to a 13% increase in the S&P 500 index, according to data provided by S&P Global Market Intelligence.
The broader sentiment is negative, though, as shares remain lower by over 40% so far in 2020.
Hyatt's stock rose with the market last month after having been among the hardest hit during the sharp sell-off in March. Investors in April chose to focus on encouraging news that might portend a slow march back toward normal business trends for the hotel industry as the pandemic threat fades in major economies like China and the U.S.
Hyatt will announce its fiscal first-quarter results on Thursday, May 7. The report runs through March 31, which means it includes just a few weeks of aggressive lockdown measures in the United States.
That timing means the worst of the COVID-19 impact is likely still to come, especially in the company's fiscal second-quarter report.
As a result, look for management to focus on metrics like liquidity, debt, and costs this week rather than attempt to predict how consumer discretionary trends might evolve over the short term.