Hyatt: Q2 Profit Rises on Stronger U.S. Bookings

The hotel chain is seeing increased business in major cities

   

Hyatt: Q2 Profit Rises on Stronger U.S. Bookings

Hyatt (NYSE:H) said on Wednesday that it earned $39 million during the second quarter, up 5.4% from $37 million in the same period last year.

The hotel chain recorded revenue of $1.01 billion in the quarter, up from $936 million in 2011.

hyatt 630px 200x200 Hyatt: Q2 Profit Rises on Stronger U.S. Bookings
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EPS was 24 cents, which beat the 22 cents forecast by analysts, Bloomberg noted.

Shares of Hyatt rose more than 2% in Wednesday mid-day trading.

Analysts cited by Bloomberg said that Hyatt premium hotels in “gateway” cities in the U.S. have seen rising room bookings this year.

The hotel business in the U.S. is performing better than in other regions, the analysts noted.

Revenue per available room rose 8.7% at Hyatt hotels in North America during the quarter, compared to a rise of just 3.8% at overseas locations.


Article printed from InvestorPlace Media, http://investorplace.com/2012/08/hyatt-q2-profit-rises-on-stronger-u-s-bookings/.

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