Hyatt swings to profit

By Reuters
Posted Feb. 17 at 7:05 a.m.

Hyatt Hotels Corp. reported a better-than-expected quarterly profit as the recovering economy boosted demand at its international and mid-market properties. The hotel owner and operator on Thursday reported fourth-quarter earnings of $6 million, or 3 cents per share, compared with a year-earlier loss of $12 million, or 7 cents per share.

Stripping out special items, the company said it earned 7 cents per share, which beat analysts’ average forecast by a penny, according to Thomson Reuters I/B/E/S.

Hyatt said fourth-quarter revPAR — a gauge of hotels’ financial health which multiples occupancy by room rate — rose 4.1 percent

Hyatt’s shares closed at $49.52 Wednesday on the New York Stock Exchange.

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