Robert H. Smith School of Business
The Motley Fool

Market Foolery Featured Podcasts

  • MarketFoolery 11.20.2014
    James Early returns from his trip to discuss China’s economy, investing in A shares, and why visitors should explore the country off the beaten path.
  • MarketFoolery 11.19.2014
    Lowe’s hits an all-time high. Target rises on a surprising quarterly profit.  Plus we discuss the late-night menu driving Jack-In-The-Box’s strong sales and dip into the Fool Mailbag.
  • MarketFoolery 11.18.2014
    On today’s show the guys break down earnings reports from TJX Companies and Home Depot. Plus they take a look at the deal between Allergan and Actavis, and what it all means for the future of Valeant Pharmaceuticals.
Capital Business
Posted at 06:11 PM ET, 10/03/2012

Marriott posts third-quarter profit


(Gene J. Puskar)
Marriott International, the Bethesda-based hospitality giant, said strong occupancy rates, more group travel and rising prices helped boost its third-quarter profits to $143 million, or 45 cents a share.

Last year, the company posted a third-quarter loss of $179 million, or 52 cents per share, following the spin-off of its time share business.

“Occupancies are finally back up,” said Laura Paugh, senior vice president of investor relations at Marriott. “We’re approaching levels that we last saw in 2007.”

Revenue for the third quarter fell about 5 percent to $2.73 billion from $2.87 billion last year.

Excluding the company’s timeshare spin-off, profit for the third quarter of 2011 totaled $102 million, or 30 cents a share, while adjusted revenue came in at $2.52 billion.

“Overall, I think it was a decent quarter,” said Smedes Rose, an analyst at Keefe, Bruyette & Woods in New York.“The wheels definitely aren’t falling off the bus here.”

The amount of revenue per available room climbed 6.7 percent to $114.64. The average daily rate for a hotel room was $155.02 in the third quarter, a 5.1 percent increase from last year.

In the Washington area, Paugh said summer travel — both for leisure and business — helped boost business in the region.

“The leisure business was much stronger this summer than it was last year,” she said. “And as you get into the first quarter of next year, we have the inauguration — and no matter who wins the elction, you’ll get a lot of people coming into town to tell the winning candidate how he can do things better. “

By  |  06:11 PM ET, 10/03/2012

 
Read what others are saying
     

    © 2011 The Washington Post Company