Marriott Moves to Profit in 4th Quarter

marriottHotels major Company's fourth quarter results beat the Wall Street expectation with the help of improved business travelling and leisure travelling in the international market responding to the special offers, good deals and aggressive promotions.

Hotel operator Marriott International Inc. reported profit for the fourth quarter of 2009 against the loss of $10 million or $0.3 per share for the comparable period of previous financial year. Company reported a decline in the revenue to $3.38 billion from the $3.78 billion for the comparable period of previous financial year.

Marriott expects to see signs of stabilization during the second half of the year at its hotel business and according to the officials of the company world-wide revenue per available room would drop 5% or less during the year. The report also expects that leisure travelling may take long time for the pick up as consumers are postponing their trips due to recession and unemployment.

For the year 2010, the company expects earnings in the range of 82 cents to 94 cents but there could be decline in the revenue per room during the first quarter of 2010.