Transient travel, tax benefits lift Hyatt's Q4 2011 results

02/16/2012 | CBS News

Hyatt Hotels posted net income of $52 million during the fourth quarter of 2011 against $6 million in the same period in 2010, boosted by a $28 million tax benefit and a demand increase in transient business travel. "Demand from this segment was the primary driver of our results in 2011," said Mark Hoplamazian, president and CEO of Hyatt. Revenue climbed 8%, to $990 million, as revenue per available room jumped 6% for properties open at least a year.

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