Hyatt Hotels Corp. reported that "sustained transient business travel" globally helped drive a 2.6 percent year-over-year increase in rates during the fourth quarter of 2011.

In North America, rates at full-service properties increased by 2.2 percent during the quarter, and select-service rates increased by 3.5 percent. Outside of North America, rates were up 3.7 percent. Global occupancy increased by 1.5 percentage points to 68.3 percent. Net income for the quarter was $52 million, up from $6 million in the fourth quarter of 2010.