Hyatt Profit Doubles in the Second Quarter

Features Reuters

Hyatt Hotels Corp's quarterly profit more than doubled, driven by higher occupancy and a rise in room rates across most of its properties.

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Net income rose to $55 million, or 35 cents per share, in the third quarter ended Sept. 30 from $23 million, or 18 cents per share, a year earlier.

Revenue rose about 4 percent to $1.02 billion.

Total RevPAR, or revenue per available room, rose 6 percent in the quarter.