Hilton Hotels today said first-quarter profit more than quadrupled as business travel continued to recover. Revenue rose 9 per cent.
The Beverly Hills-based hotel operator also cited strong gains in revenue per available room, or RevPAR.
Hilton boosted its estimate for 2004 earnings based on improving trends in travel and a strengthening US economy.
Hilton had net income of $37 million, or 10 cents a share, for the latest quarter, compared with $9 million, or 2 cents a share, a year ago.
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The latest results topped the estimate of analysts surveyed by Thomson First Call for 6 cents a share.
Revenue rose to $994 million from $909 million.