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Hyatt Plans ‘Significant’ Amount of New Hotels

CHICAGO-The local hospitality firm, only two years public, looks to expand its properties in New York City and foreign markets, according to the CEO during a Q4 conference call.

By Robert Carr | Updated on February 16, 2012

CHICAGO-Hyatt Hotels on Thursday reported higher income and RevPAR numbers for fourth quarter 2011, compared to Q4 2010, crediting in part the shorter but more plentiful stays by business and vacation travelers in today’s economy. The firm, with about 483 properties in 45 countries, has almost $1 billion on its balance sheet, and said it is poised to expand by opening a significant number of new properties in the future.

Harmit Singh, CFO, said in the company’s conference call about Q4 that RevPAR increased 6.5% in North America from the fourth quarter 2010. Transient business, the guests who stay for less than one week, was strong in the quarter, with revenues generated up about 13% compared with Q4, he said. RevPAR for Latin America and Southwest Asia was also strong, but Japan, North Africa and Shanghai numbers were down, he said.

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