Business | Tourism

Marriott 4Q earnings up on higher room revenue

Sees full-year 2013 revPAR up 4-7 per cent

  • Reuters
  • Published: 17:13 February 20, 2013
  • Gulf News

Bethesda, Maryland: Marriott International reported better-than-expected quarterly results as room revenue rose, aided by rising international travel and higher rates, and the hotel operator said it expects per-room revenue to rise further in 2013.

Marriott said it expects revenue per available room (revPAR), a key metric that measures hotel health, to rise 4 to 7 per cent this year.

During the fourth quarter, worldwide revPAR rose 6 per cent while room rates were up 4 per cent, said the owner of brands such as Ritz-Carlton, Residence Inn and Courtyard by Marriott.

Net income was $181 million (Dh664.64 million), or 56 cents per share, in the fourth-quarter, up 28 per cent from $141 million, or 41 cents per share, a year earlier, Marriott said in a statement.

Increased demand from corporate customers has led to a recovery in North America — the source of more than three quarters of its revenue.

Gulf News
Retail Gold Rate
Business Editor's choice
Quick Access

  1. Markets

  2. Economy

  3. Property

  4. Aviation

Business Top Stories

  1. Dubai’s property buyers chase value

  2. Building up a property portfolio from scratch

  3. UAE banks credit may grow 8-9% in 2014-15: S&P

  4. Sony warns of $2.14b annual loss

  5. Belgium seeks to boost tourist arrivals