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Hyatt profit more than doubles as occupancy, room rates rise

Wednesday, 30 Oct 2013 | 7:44 AM ET

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

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

Revenue rose about 4 percent to $1.02 billion.

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

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