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Marriott International’s luxury brands such as Ritz-Carlton and JW Marriott led fourth-quarter demand gains for the world’s largest hotel company, while business lagged in regions such as the Caribbean, Latin America and the Middle East and Africa.
Marriott’s luxury-branded hotels in North America had a revenue per available room (RevPAR) increase of 2% from a year earlier, while RevPAR at North American select-service hotels under brands such as Residence Inn and Courtyard advanced 1.3%. Marriott didn’t provide RevPAR metrics for the brands it gained when it acquired Starwood Hotels & Resorts last September.
Marriott also forecast worldwide RevPAR to rise about 2% during the first quarter. Hilton, which reported fourth-quarter earnings earlier Wednesday, made a similar first-quarter forecast.
Overall, Marriott net income fell 16% compared to Marriott’s and Starwood’s combined fourth-quarter 2015 results to $244 million, as the company incurred $90 million in merger-related costs. Revenue, relative to combined year-earlier results, fell 2.1% to $5.46 billion.
Sourse: travelweekly.com
