The average daily rate at Hyatt Hotels Corp. properties during the fourth quarter of 2012 increased by 2.8 percent year over year to $175.90, and occupancy was up slightly to 69.1 percent. In the Americas, ADR increased by 4.4 percent at Hyatt's full-service brands and by 5.6 percent at select-service brands, in which occupancy increased 2 percentage points to 71.7 percent. Full-service hotel ADR increased by 3.5 percent in the Asia/Pacific region but decreased by 4 percent in Europe, Africa, the Middle East and in Southwest Asia. Hyatt's net income for the quarter was $16 million, down from $52 million in the fourth quarter of 2011.
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Kirk Kinsell, president of InterContinental Hotels Group's operations in the Americas, will become CEO of Loews Hotels & Resorts in March 2015,... read more »