Hyatt profit more than doubles as occupancy, room rates rise

Wed Oct 30, 2013 7:58am EDT

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

Net income rose to $55 million, or 35 cents per share, in the third quarter ended September 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.

(Reporting by Rohit T. K. in Bangalore; Editing by Kirti Pandey)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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