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What: Shares of Hyatt Hotels
So what: Revenue was up 2% to $897 million and fell short of analysts' estimates of $920 million in revenue. But the bottom line was strongm where adjusted earnings per share were $0.16, higher than the $0.07 analysts expected.
Now what: Revenue per available room for the company's owned and leased hotels grew 9.2% and contributed most of the earnings improvement. I'm not sure Hyatt is worth its steep earnings multiple at this point, but if the economy makes a turn for the better, this hotel operator should be a big winner. I'll sit this move out today because I'm just not that impressed with a 2% earnings-growth rate in the hotel business.
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Fool contributor Travis Hoium has no position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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