Marriott International's profits fall in third quarter

05 October 2006
Marriott International's profits fall in third quarter

Global hotel chain Marriott International today announced that earnings for the third quarter of 2006 fell by 5.4%.

Marriott, whose brands include the Ritz-Carlton, Residence Inns and Renaissance Hotels, said net income for the three months to 8 September fell to $141m (£75m), from $149m (£79m), in the same period last year.

Adjusted earnings from continuing operations, which exclude the company's synthetic fuels business, totalled $144m (£78m), in the latest quarter.

Turnover was about flat at $2.7b (£1.45b), Revenue per available room rose by 9.4%, while the average daily rate was up 9.1%.

JW Marriott Junior, chairman and chief executive of the company, said: "We are pleased with the continued strong growth in the third quarter. And with strong meeting and business travel coupled with healthy holiday travel bookings to the Caribbean and other resort destinations, we are optimistic about our fourth-quarter performance."

Marriott International predicts 40% boost to hotel profits for 2006>>

New Courtyard by Marriott planned for London's Gatwick Airport>>

Marriott International to open 50 more UK hotels>>

By Daniel Thomas

E-mail your comments to Daniel Thomas]( International's profits fall in third quarter) here.

Get your copy of Caterer and Hotelkeeper every week -

[Sudoku]( "A new puzzle every day!") Join the craze and play Sudoku online!
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking