Hyatt Hotels has beaten expectations with second-quarter net income of $67m (£50m).
It reported earnings of 64 cents per share, surpassing analysts’ expectations of 47 cents per share.
The US-based hotel operator posted revenue of $1.17bn in the period, meeting Wall Street forecasts.
Its revenue per available room (RevPAR), a key performance metric for the hotel industry, increased 2.3 per cent year-over-year while in the US RevPAR grew 4.2 per cent in the second quarter. It did however say it is now forecasting RevPAR to rise by around two per cent to three per cent for the full year, down from three per cent to five per cent previously.
“Our outlook for the overall business remains positive despite some near-term challenges,” Hyatt Hotels chief executive Mark Hoplamazian said in a statement. “In line with current trends, we are revising expectations for comparable system-wide RevPAR growth to a range of approximately two per cent to three per cent for the year.”
Hyatt Hotel’s shares are up just over eight per cent since the beginning of the year.