Marriott earnings fall in third quarter

Marriott has reported a 23% year-on-year fall in net income in its third-quarter results.

Net income totalled $387m (£300m) with earnings before interest, tax, depreciation and amortisation (EBITDA) of $901m (£698m), broadly flat compared to 2018. Revenue per available room (revpar) rose 1.5% worldwide in the period.

The company added more than 17,700 rooms during the quarter, with its development pipeline totalling roughly 2,950 hotels and nearly 495,000 rooms.

Arne M Sorenson, president and chief executive of Marriott International, said: “We expect continued strong demand for our products. For the fourth quarter of 2019, we expect comparable revpar on a constant dollar basis will increase 0% to 1% in North America, roughly 1% outside North America, and roughly 1% worldwide.

"For full-year 2020, we expect comparable systemwide revpar on a constant dollar basis will be flat to up 2% worldwide, with revpar growth in North America around the middle of that range.”