UPDATE 1-Hyatt results beats on strong U.S. demand
* Second-quarter adj earnings/share $0.43 vs est $0.30
* Revenue up 7.7 pct
* RevPAR up 6.1 pct at U.S. full-service hotels
July 31 (Reuters) - Hyatt Hotels Corp's results topped Wall Street estimates in a traditionally strong second quarter, helped by an increase in both business and leisure travel in the United States.
Hyatt, which owns the Park Hyatt, Grand Hyatt and Andaz chains, draws about three quarters of its revenue from the United States, where a rebound in travel has improved occupancy and allowed hoteliers to charge more for rooms.
The company's results follow those of Starwood Hotels & Resorts Worldwide Inc, which raised its 2013 earnings forecast last week after reporting a strong quarterly profit.
Hyatt, controlled by the billionaire Pritzker family of Chicago, said it expects group demand in the United States to remain modest. Group bookings fell in the first quarter after posting weak growth in the fourth quarter of 2012.
Group room revenue at full-service hotels rose 5.2 percent in the quarter ended June.
Group guests use ancillary services such as catering and banquets, in addition to bulk room reservations, while transient guest spending is mostly room-related.
Revenue per available room, a key measure of hotel health, rose 6.1 percent at full-service hotels in the United States and 6 percent at select-service hotels that offer limited food and drink outlets.
Hyatt said it expects stable transient demand at U.S. hotels, but forecast continued volatility in China and India.
Net income almost tripled to $112 million, or 70 cents per share, from $39 million, or 24 cents per share, a year earlier.
Excluding items, the company earned 43 cents per share, 13 cents ahead of the average analysts forecast.
Revenue rose 7.7 percent to $1.2 billion, above analysts' average expectation of $1.07 billion, according to Thomson Reuters I/B/E/S.
Rival Marriott International Inc will report results after markets close on Wednesday.
Hyatt shares have risen about 11 percent from the start of the year to Tuesday's close of $42.69 on the New York Stock Exchange.