UPDATE 1-Hyatt reports bigger quarterly profit

Tue May 3, 2011 8:14am EDT

* Q1 $0.06/shr vs $0.03/shr last year

* Management, franchise fees up 23 pct

NEW YORK May 3 (Reuters) - Hyatt Hotels Corp's (H.N) quarterly profit rose, helped by an increase in management fees.

It reported on Tuesday a first-quarter profit of $10 million, or 6 cents per share, compared with $5 million, or 3 cents per share, a year earlier. (Reporting by Helen Chernikoff; Editing by Derek Caney)