Marriott’s Profit Falls Less Than Estimated
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From Bloomberg News
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.
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