Wednesday, October 3, 2012

Marriott International Reports Third Quarter 2012 Results


Bill Marriott, Chairman


BETHESDA, Md., Oct. 3, 2012 /PRNewswire/ -- Marriott International, Inc. (NYSE: MAR) today reported third quarter 2012 results. 

Highlights:
  
  • Diluted earnings per share (EPS) totaled $0.44, a 52 percent increase
  • over prior year adjusted results;
  • During the third quarter, the company completed the sale of its equity
  • interest in the Courtyard joint venture resulting in cash proceeds of
  • $96 million and a $41 million pre-tax gain;
  • North America comparable company-operated REVPAR rose 7.0 percent in
  • third quarter.  On a constant dollar basis, worldwide comparable
  • systemwide REVPAR rose 6.0 percent and average daily rate rose 4.7
  • percent using constant dollars;
  • At the end of the third quarter, the company's worldwide pipeline of
  • hotels under construction, awaiting conversion or approved for
  • development totaled over 120,000 rooms, not including the 8,100 rooms
  • from the acquisition of the Gaylord brand and hotel management business;
  • Nearly 5,000 rooms opened during the quarter, including over 1,400 rooms
  • converted from competitor brands and over 1,600 rooms in international
  • markets.  The company signed nearly 13,000 rooms in the third quarter;
  • Marriott repurchased 9.6 million shares of the company's common stock
  • for $353 million during the quarter.  Year-to-date through the third
  • quarter, the company repurchased 24.3 million shares for $903 million;
  • For comparable Marriott Hotels & Resorts properties in North America,
  • group room revenue increased 8 percent in the third quarter compared to
  • the year ago quarter.

For a complete copy of the company’s news release, please contact:

 Tom Marder,
+1-301-380-2553,

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