Marriott Profit Up 45% on Increased Travel
Marriott International Inc., the largest U.S. hotel company, said its fiscal third-quarter earnings climbed 45%, the biggest gain in almost two years, as business and leisure travel picked up.
Net income in the quarter ended Sept. 10 increased to $133 million, or 56 cents a share, from $92 million, or 37 cents, a year earlier. Revenue rose 9.2% to $2.3 billion, the Bethesda, Md.-based company said.
Shares of Marriott fell 80 cents to $53.02 on the New York Stock Exchange.