* Q2 EPS 24 cents vs estimate 23 cents
* Shares up 3 pct
Aug 1 (Reuters) - 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 Reuters I/B/E/S.
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 trading.