Hyatt profit more than doubles as occupancy, room rates rise

Reuters

Oct 30 (Reuters) - Hyatt Hotels Corp's quarterlyprofit more than doubled, driven by higher occupancy and a risein room rates across most of its properties.

Net income rose to $55 million, or 35 cents per share, inthe third quarter ended Sept. 30 from $23 million, or 18 centsper share, a year earlier.

Revenue rose about 4 percent to $1.02 billion.

Total RevPAR, or revenue per available room, rose 6 percentin the quarter.

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