Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Marriott International Tops Q4 Forecast (MAR)

Wednesday, February 20, 2013 4:52 AM
Marriott International Inc. (NYSE: MAR) on Tuesday reported better than expected fiscal third-quarter results as revenue was bolstered by higher room rates amid rising international travel. For the fiscal fourth quarter, the  Bethesda, Maryland-based company reported that total revenue-per-available-room (ravPAR), a key gauge on hotel chain’s performance,  climbed 6% even as room rates increased by 4%. Marriott International, known for brands such as Ritz-Carlton, Courtyard and Residence Inn, anticipates that revenue-per- available-room is likely to grow 4% to 7% in the fiscal 2013. The hotel operator said that it is maintaining a very conservative outlook due to fears over possible budget cuts or sequester which could impact the demand in North America. “There is nothing in the business we can see today that would cause me to go out and say 4 percent revPAR growth, but March 1 is coming and we will have to see what Congress does,” said Laura Paugh , company’s spokeswoman in a statement. Paugh also said that the Company was in talks with corporate customers to hike room rates by high single digit percentage; nevertheless congressional negotiations over the ‘fiscal cliff’ held up the process, added Paugh. Better demand from corporate customers has been the key driving force behind hotel industry’s rebound in North America. For Marriott International, revenue from corporate customers account for more than three quarters of entire revenue. Net income during the quarter came at $181 million or 56 cents per share up 28 percent from $141 million, or 41 cents per share, in the year earlier quarter. Excluding onetime items, adjusted or non-GAAP earnings stood at 56 cents a share. Revenue during the period rose 2% to $3.76 billion. Analysts’ consensus estimate was for earnings of 55 cents a share on revenue of $3.66 billion, according to a data compiled by Thomson Reuters.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!

Latest Headlines

Fed could wait until September to lift rates: BlackRockFed could wait until September to lift rates: BlackRock
NEW YORK (Reuters) - The U.S. Federal Reserve could wait until September to raise interest rates as it sees risk of further decline in inflation and slowing global growth, a top bond investor at the w...
Shake Shack IPO is hot but can it match Chipotle?Shake Shack IPO is hot but can it match Chipotle?
(Reuters) - Growth-hungry investors are lining up for shares of burger chain Shake Shack <SHAK.N>, which plans to price its initial public offering after the U.S. stock market closes on Thursd...
Standard Chartered board to discuss CEO succession at meeting: sourcesStandard Chartered board to discuss CEO succession at meeting: sources
LONDON (Reuters) - Standard Chartered`s <STAN.L> board will discuss succession planning at a meeting in Washington, D.C., on Thursday, people familiar with the matter said, following speculati...
U.S. pending home sales drop more than expected in DecemberU.S. pending home sales drop more than expected in December
WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes fell more than expected in December as tighter inventory and an increase in house prices discouraged buyers. The National Associ...
Business class you win, economy you lose: British Airways faces backlash over points changesBusiness class you win, economy you lose: British Airways faces backlash over points changes
LONDON/BERLIN (Reuters) - British Airways is facing a backlash from customers after making changes to the way passengers can earn and spend miles under its Avios frequent flyer program, with some thre...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
AppleStock FREE AAPL Signals realtime daytrade signals