(Bloomberg) ? Fairmont Hotels & Resorts Inc., the manager of hotels including New York?s Plaza, said third-quarter profit rose more than tenfold, helped by higher room rates and the sale of two tropical resorts. Net income rose to $131.8 million, or $1.66 a share, from $11.6 million, or 15 cents, a year earlier when damage in Bermuda from Hurricane Fabian cost 9 cents a share. Revenue rose 10 percent to $207.5 million, the Toronto-based company said in a statement.

Fairmont said it charged higher rates as business and leisure travel increased, echoing comments on the quarter by companies including Marriott International Inc. and Hilton Hotels Corp. The company posted a $75.7 million gain from the sale of the Fairmont Kea Lani Maui hotel in Hawaii and the Fairmont Glitter Bay in Barbados.

The company earned 36 cents a share excluding proceeds from the hotel sales and the sale of shares of Legacy Hotels Real Estate Investment Trust. Per-share profit was expected to be 40 cents, the average estimate of 12 analysts polled by Thomson Financial. Shares of Fairmont fell 13 cents to $28.05 at 4.01 p.m. in New York Stock Exchange composite trading. They?ve risen 3.4 percent this year.