Profit rose 7 percent at Marriott International during the second quarter, helped in part by strong demand for rooms during soccer’s World Cup, the hotel giant reported Tuesday.
Second-quarter profit climbed to $192 million, or 64 cents per share, boosted by rising average daily rates and higher occupancy. A year earlier, the company posted a profit of $179 million, or 57 cents per share.
“All in all, this was a strong quarter,” said Laura E. Paugh, senior vice president of investor relations for Marriott. “The World Cup was a big help, as was resort demand in the Caribbean and in Mexico.”
Bethesda-based Marriott has been rapidly adding hotels in recent months. During the first six months of 2014, the company signed contracts to manage about 295 new hotels — nearly a dozen per week. Marriott added 162 of those in the second quarter, including 113 related to its purchase of South Africa-based Protea Hospitality Group, which was finalized in April.
As of June 30, Marriott had a record of 215,000 rooms in its pipeline.
“We are on pace to have another record development year in 2014,” Arne M. Sorenson, president and chief executive, said in a statement.
Revenue-per-available room, a closely followed industry metric, grew 5.8 percent worldwide, led by a 31 percent increase in Brazil, where Marriott’s three properties benefited from the month-long World Cup, Paugh said.
In the Washington area, however, the metric slipped 2 percent when compared with the second quarter of 2013.
“D.C. was a laggard,” Paugh said. “It hasn’t had the same kind of economic growth that you have in other markets in the U.S., and government travel still hasn’t really come back” since sequestration.
Revenue rose nearly 7 percent to $3.48 billion in the quarter, up from $3.26 billion in the same period a year ago.
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