Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Marriott International reports smaller profit during a shorter reporting period

NEW YORK, N.Y. - Marriott International said Wednesday that its fourth-quarter net income fell 17 per cent after the hotel company shortened its quarter.

The Bethesda, Md.-based company is changing its reporting calendar. But the hotel chain, best known for brands like Courtyard, Ritz-Carlton and Fairfield Inn, said its operations improved. It was one of the few consumer-oriented companies not to report any decline because of rough winter weather.

Snow can sometimes help hotels, said Laura Paugh, senior vice-president of investor relations, in an interview.

"The colder it is in the Northeast, the more likely (people) are to head south," she said. "The Christmas season was fantastic," particularly in Mexico and the Caribbean.

The company's revenue per available room — or REVPAR — rose 4.3 per cent to $98.22.For North American hotels, that key figure rose 5.1 per cent, with the high-end Ritz-Carlton brand seeing the biggest jump at 10.4 per cent.

New hotels also helped. During 2013, Marriott's portfolio of owned, franchised or managed hotels grew by 155 to 3,916 properties. The number of rooms grew by 2.3 per cent to 675,623 worldwide.

For 2014, Marriott expects REVPAR to climb 4 to 6 per cent in North America and 3 to 5 per cent elsewhere.

The company reported net income of $151 million, or 49 cents per share, for the 92 days that ended Dec. 31. That was down from the $181 million, or 56 cents per share, it earned in 2012 during a 112-day quarter.

Marriott says revenue fell 14 per cent, to $3.22 billion from $3.76 billion.

Wall Street had predicted the company would earn 49 cents per share on revenue of $3.37 billion, according to FactSet.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Submit a Random Act of Kindness
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates