(Corrects to show that the shares rose 12 pct in first paragraph and that $1.06 billion is Hyatt's market cap after first day of trading)

* Hyatt shares up 12 pct in NYSE debut

* Strong balance sheet, industry outlook spur shares

* Second-largest IPO on NYSE this year

* Based on EBITDA valuation, Hyatt trading at discount (Recasts with closing price, adds background on Hilton, detail about next week's IPOs, new analyst quotes)

By Deepa Seetharaman

NEW YORK, Nov 5 (Reuters) - Hyatt Hotels Corp (H.N: Quote, Profile, Research) shares rose 12 percent in their debut on Thursday as investors snapped up the company's shares enticed by its rich store of cash and robust recovery prospects for the hotel industry.

Chicago-based Hyatt's shares rose to $28 on the New York Stock Exchange. It priced at $25 on Wednesday, within the expected range.

Hyatt's initial public offering is the second-largest on the NYSE this year after Banco Santander (BSBR.N: Quote, Profile, Research). Ancestry.com Inc (ACOM.O: Quote, Profile, Research) also went public on the Nasdaq and its shares closed more than 5 percent higher to $14.20. [ID:nN0589649]