Demand increases Marriott’s quarterly profits
By Danny King, Travel Weekly
Marriott International’s first-quarter profit rose 3 percent from a year earlier, as higher franchise fees more than offset the drop in earnings caused by last year’s spinoff of the company’s timeshare business.
Marriott’s net income was $104 million, up from $101 million. Revenue fell 8.2 percent to $2.55 billion because of the timeshare spinoff; the timeshare business had accounted for about 10 percent of Marriott’s sales.
Factoring out currency effects, Marriott’s revenue per available room (RevPAR) rose 6.7 percent. North America RevPAR advanced 6.9 percent, while RevPAR increased 5.3 percent in the rest of the world.