Hyatt Profits Up, but Revenues Fall Short of Expectations
Boosts in occupancy rates and real estate sales pushed Hyatt Hotels' 4Q14 profits, while revenues fell short of Wall Street's expectations. Revenue per available room inched up 1.9% in the quarter, and enjoyed a 3.4% boost excluding foreign currency effects. The global chain reported a profit of $182M, or $1.20 per share. That was up from the year-ago period's $32M, or $0.20 a share profit.
Revenues took a small dip to $1.08B versus last year's $1.09B. Analaysts had expected $1.14B in revenues. Real estate sales of $246M boosted the quarter's performance. Future earnings reports will help determine the success of Hyatt's growing emphasis on the luxury hotel sector. Last August, the 210-room Park Hyatt brand flagship opened in Manhattan's ultra-luxe One57 tower.
