Hyatt Hotels Corp. saw its net income improve in the third quarter of 2012, boosted by increased revenues.
Hyatt Hotels Corp., Chicago, reported a net income to US$23 million in the third quarter of 2012, up from US$14 million in the third quarter of 2011. Systemwide RevPAR grew 3.2% year-on-year, with North American full-service hotels’ RevPAR up 4.2% and select service up 6%. International hotel RevPAR rose only 0.8%, though.
“During the quarter, adjusted EBITDA increased by over 14% as we benefited from the recent acquisitions of hotels in the U.S. and Mexico, as well as from the results of some of our key owned hotels that were renovated last year. North American transient rate growth also benefited overall results,” said Mark Hoplamazian, Hyatt Hotels Corp. president and CEO.