Both Marriott International and Hyatt Hotels Corp. are reporting corporate rate increases in the high single digits

as they wrap up negotiations for 2011 hotel programs. In its fourth-quarter earnings call, Marriott CFO Carl Berquist said negotiations at Marriott are about two-thirds complete and are "running up at a high-single-digit rate over 2010." Berquist also said that the company projects the business travel recovery that began last year—corporate room nights at Marriott properties increased 16 percent year over year in the fourth quarter—will continue this year. Similarly, Hyatt CFO Harmit Singh said that a majority of Hyatt's corporate rate negotiations are complete, with most seeing "a mid- to high-single-digit increase in 2011, in line with what we stated." Hyatt reported a net income of $6 million for the quarter, compared with a loss of $12 million in the fourth quarter of 2009. Marriott's reported net income for the quarter increased to $173 million from $106 million the year before.