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October 10, 2010

Marriott Reports Profit in Q3

Hotel operator Marriott International recorded an $83m profit in the third quarter of 2010. The company attributed the revenue rise to higher room rates. Marriott International made a loss of $466m or $1.31 per share last year. Revenue rose from $2.5bn to $2.6bn for the quart

By cms admin

Hotel operator Marriott International recorded an $83m profit in the third quarter of 2010. The company attributed the revenue rise to higher room rates.

Marriott International made a loss of $466m or $1.31 per share last year.

Revenue rose from $2.5bn to $2.6bn for the quarter and Marriott added 32 properties and more than 5,000 rooms during the quarter.

Revenue per available room RevPAR rose 7.2% in North America and 12% internationally and the company’s average daily room rate rose by 1.8%.

Marriott’s worldwide pipeline of hotels under construction, awaiting conversion or approved for development, totalled nearly 95,000 rooms.

The company said revenue per available room will increase by 6 to 8% in 2011.

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