* Q2 EPS 24 cents vs estimate 23 cents
* Shares up 3 pct
Aug 1 Hyatt Hotels Corp reported a higher
quarterly profit on Wednesday, as increased demand and
renovations aided room rates and occupancy in North America.
The company said it was "encouraged" by recent travel trends
of individuals and groups. It added international hotels
performed well, citing solid results in China and good results
at Hyatt properties in Europe, which are mainly located in big
cities such as Paris and London.
Net income came to $39 million, or 24 cents a share, in the
second quarter, compared with $37 million, or 22 cents a share,
a year earlier.
Analysts expected 23 cents a share, according to Thomson
Quarterly revenue rose 8 percent to $1 billion. Revenue per
available room, a key measure of hotel health, rose 8.7 percent
at full service hotels in North America and gained 6.4 percent
at select-service hotels that offer limited food and drink
outlets. International revPAR was up 3.8 percent.
Shares of Hyatt rose 3.4 percent to $36.76 in morning