Hyatt reports higher revenue as business travel increases

April 30 Wed Apr 30, 2014 6:47am EDT

April 30 (Reuters) - Hyatt Hotels Corp reported a 10 percent rise in quarterly revenue as growth in business travel in North America boosted both occupancy and room rates.

Net income attributable to Hyatt rose to $56 million, or 36 cents per share, in the first quarter, from $8 million, or 5 cents per share, a year earlier.

Hyatt, which owns and operates hotels under brands such as Park Hyatt, Grand Hyatt and Hyatt Regency, reported earnings of 13 cents per share, excluding items.

Revenue rose to $1.07 billion from $975 million. (Reporting by Mridhula Raghavan in Bangalore; Editing by Maju Samuel)