Hyatt Hotels Corporation (NYSE:H) shares rose on Thursday as solid momentum in luxury travel and stronger leisure demand helped lift key performance metrics, despite a slight top-line miss.

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Investors cheered the improved profitability, a larger pipeline, higher planned capital returns, and a positive growth outlook.

Hyatt Hotels reported third-quarter sales of $1.786 billion, marginally missing the Street view of $1.809 billion.

Also Read: Marriott Cashes In On Luxury Hotel Demand, Lifts Outlook

On Tuesday, Marriott International (NASDAQ:MAR) stock rose after the company reported a third-quarter beat, stronger fee income, and robust room additions. Marriott had said that its luxury hotels outperformed globally.

In line with Marriott, Hyatt's comparable system-wide hotel revenue per available room (RevPAR) rose 0.3% from the prior-year quarter.

The luxury chain's scale led to a growth in RevPAR in the third quarter. Leisure transient RevPAR was the strongest performer.

However, group ...