Marriott International Reports $106m Q4 Profits

16th February 2010 (Last Updated February 16th, 2010 18:30)

Marriott International said its fourth quarter adjusted income from continuing operations totaled $118m, a 2% fall from the same quarter in 2008. Reported income from continuing operations attributable to Marriott was $106m in the fourth quarter of 2009 compared with a reported los

Marriott International said its fourth quarter adjusted income from continuing operations totaled $118m, a 2% fall from the same quarter in 2008.

Reported income from continuing operations attributable to Marriott was $106m in the fourth quarter of 2009 compared with a reported loss from continuing operations attributable to Marriott of $10m in the same period in 2008.

Adjusted diluted earnings per share from continuing operations attributable to Marriott shareholders totaled $0.32, down 3%.

The company added 38,000 rooms in 2009 with an additional 100,000 rooms in the pipeline. Overall the company added 65 new properties amounting to 3,420 properties.

The new pipeline properties include Marriott, Ritz-Carlton, Renaissance, EDITION or Autograph rooms, of which 75% are located outside North America.

Marriott International chairman and chief executive officer JW Marriott, Jr said while the global business climate remained difficult, fourth-quarter results exceeded the company’s expectations.