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Marriott profit higher than expected

Profile Photo By: Steve Shellum
May 9, 2017

Marriott profit higher than expected

Bethesda, Maryland – 9 May 2017 –
Marriott International reported a higher-than-expected quarterly profit, driven by higher room rates and occupancy.

The company, which owns the Ritz-Carlton and St. Regis luxury hotel brands among others, said it expects revPAR to rise 1-3 percent this year, up from its previous forecast of 0.5 to 2.5 percent.

“RevPAR exceeded our expectations in North America and Europe due to stronger group attendance and higher-rated business transient demand,” chief executive Arne Sorenson said.

Marriott’s North American and worldwide systemwide RevPAR rose 3.1 percent, in the first quarter ended March 31.

The company, … Read More

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