Hyatt Hotels Corp.'s (H) first-quarter net income attributable to the company declined to $8 million, or $0.05 per share, from $10 million, or $0.06 per share in the prior year quarter.
Adjusted for special items, net income attributable to the company for the quarter was $14 million, or $0.09 per share, compared to net income attributable of $5 million, or $0.03 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues for the quarter rose to $975.00 million from $958.00 million in the prior year quarter. Fifteen analysts had consensus revenue estimate of $ 1.01 billion for the quarter.
The company said it expects to open over 35 hotels in 2013.
Capital expenditures for fiscal 2013 are expected to be approximately $275 million, including approximately $100 million for investment in new properties, such as Grand Hyatt Rio de Janeiro, Hyatt Place Omaha and other properties.
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