Hyatt surges on its first day of trading

Updated

The threat of family feuds and a worldwide slump in hotel reservations couldn't dampen Hyatt Hotels Corp. (H) on its first day of trading on the New York Stock Exchange. The high-end hotel chain rose more than 12 percent on Thursday after raising $950 million in its initial public offering the prior evening.

What's driving the strong performance? It certainly doesn't hurt that the S&P 500 enjoyed its fourth straight day of gains, rising about 1.8 percent. But investors pushed Hyatt's shares from $25, where they debuted, all the way up to $28 on the strength of its well-known brand and healthy cash flow, analysts say.

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