Marriott quarterly revenue rises 7.7 percent

Marriott quarterly revenue rises 7.7 percent

Marriott International Inc reported a 7.7 percent rise in fourth-quarter revenue as more people booked its rooms at higher prices, helping the company reaffirm its 2018 forecast for a key performance metric.

FILE PHOTO: A JW Marriott hotel is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson/File Photo

REUTERS: Marriott International Inc reported a 7.7 percent rise in fourth-quarter revenue as more people booked its rooms at higher prices, helping the company reaffirm its 2018 forecast for a key performance metric.

The world's largest hotel chain said its revenue rose to US$5.88 billion in the quarter ended Dec. 31 from US$5.46 billion a year earlier.

Net income fell to US$201 million, or 54 cents per share, from US$244 million, or 62 cents per share, a year earlier.

Excluding a charge related to changes in the U.S. tax law and other adjustments, Marriott earned US$1.12 per share.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur)

Source: Reuters

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