Marriott’s Profit Falls Less Than Estimated

Marriott International Inc., the biggest U.S. hotel operator, reported third-quarter profit that fell less than analysts estimated as demand from business travelers allowed the company to increase rates.

Net income declined 5.4% to $141 million, or 33 cents a share, because of an increase in the tax rate, the Bethesda, Md.-based company said.

Revenue was little changed at $2.7 billion after Marriott sold hotels.

Shares rose $2.52 to $40.85.