International hotel operator is “cautiously optimistic” about 2012
Marriott, the international operator and franchiser of hotels, has posted a significant result for the third quarter of 2011 as it reported strong earnings pushed by higher revenue in most of the regions in operates in. The company posted a quarterly loss due to costs from the spinoff of its timeshare business, but expects 5 to 7 percent growth in revenue per available room for Q4. As a consequence it is “cautiously optimistic” about 2012.
The results are important for the hotel industry because Marriott is widely seen by experts to forecast and influence future trends in the industry, and they come at a time of deep uncertainty.
The Wall Street Journal
[pictured: Putrajaya Marriott Hotel, Kuala Lumpur]