Hilton Hotels Corp. reported first quarter profits jumped 73 percent Tuesday as growth in business travel allowed the hotel chain to hike room rates.

The Beverly Hills-based company reported net income of $64 million (16 cents per diluted share) for the first quarter ending March 31, compared to $37 million (10 cents per diluted share) in the like quarter a year earlier. Revenue rose to $1.08 billion from $994 billion in the year-ago period.

The earning beat analysts’ forecasts, which averaged 13 cents a share.

Across all U.S. Hilton hotel brands, the average price of a night stay increased to $158.72 in the first quarter from $148.80 a year earlier. The revenue per available room, a key hotel industry financial indicator, climbed to an average of $111.65 in the first quarter, compared to $102.37 a year ago.

The Hilton chain, which includes the brands Hampton, Hilton Garden Inn, Doubletree and Embassy Suites, added 35 hotels in the first quarter, pushing the chain’s total properties to nearly 2,300. The company expects to add up to 150 hotels this year.

Due to robust travel, Hilton said that earnings per share are expected to be in the range of 78 cents to 80 cents for the full year. That would beat analysts’ average forecasts of 75 cents.