Marriott profits from higher room rates

Discussion in 'Marriott | Rewards' started by sobore, Aug 1, 2013.  |  Print Topic

  1. sobore
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    sobore Gold Member

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    http://buyingbusinesstravel.com/news/0121204-marriott-profits-higher-room-rates

    Strong business travel demand has helped Marriott International to increase profits by 26 per cent as occupancy rates have returned to pre-recession levels in the US.

    The hotel firm made a pre-tax profit of $263 million for the three months to the end of June, as revenue rose by 18 per cent to $3.26 billion during the quarter.

    Marriott’s pre-tax profits for the first six months of 2013 rose by 30 per cent to $464 million on the back of a revenue increase of 20 per cent to $6.4 billion.

    Arne Sorenson, CEO of Marriott International, said: “We were pleased with our second quarter results and believe they reflect the core strength of our business model.
    “Modest economic growth combined with historically low supply increases in the industry helped us post 5.2 per cent systemwide revpar growth in North America.

    Read More: http://buyingbusinesstravel.com/news/0121204-marriott-profits-higher-room-rates
     
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  2. uggboy
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    uggboy Gold Member

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    I was actually surprised how fast Marriott could raise their overnight charges.
     
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  3. sobore
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    sobore Gold Member

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    They got me for an additional $10! :eek::)
     
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