CHICAGO — Hyatt Hotels Corp.'s fourth-quarter profit rose, benefiting from a gain on the sale of real estate.
The Chicago-based company earned $182 million, or $1.20 per share, for the three months ended Dec. 31. A year earlier it earned $32 million, or 20 cents per share.
The current period included a $246 million gain on the sale of real estate.
Earnings, adjusted for one-time gains and costs, were 31 cents per share.
Analysts surveyed by FactSet expected earnings of 22 cents per share.
The hotel operator posted revenue of $1.08 billion. Wall Street anticipated higher revenue of $1.13 billion.
For the year, Hyatt reported a profit of $344 million, or $2.23 per share. Its adjusted profit was $1.09 per share. Revenue was reported as $4.42 billion.
The company's stock fell 53 cents to $59 in afternoon trading.
Keywords: Hyatt Hotels, Earnings Report
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