Marriott International Reports First Quarter 2013 Results (United States)
FIRST QUARTER HIGHLIGHTS |
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Marriott International Reports First Quarter 2013 Results (United States)
FIRST QUARTER HIGHLIGHTS |
Category: North America & West Indies / Carribean islands - United States - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2013-05-03
• First quarter diluted EPS totaled $0.43, a 43 percent increase over prior year results;
• Operating income increased $51 million in the first quarter to $226 million, including an estimated $23 million increase relating to the change in the fiscal calendar;
• North American comparable company-operated REVPAR rose 5.8 percent in the first quarter with average daily rate up 5.3 percent;
• On a constant dollar basis, worldwide comparable systemwide REVPAR rose 4.6 percent in the first quarter, including a 3.8 percent increase in average daily rate;
• At the end of the first quarter, the company’s worldwide pipeline of hotels under construction, awaiting conversion or approved for development increased to over 135,000 rooms, including more than 64,000 rooms outside North America;
• Nearly 5,300 rooms opened during the quarter, including roughly 1,200 rooms converted from competitor brands and over 3,000 rooms in international markets. The company added over 16,000 rooms to the pipeline during the first quarter;
• Marriott repurchased 5.4 million shares of the company’s common stock for $212 million during the first quarter. Year-to-date through April 30, 2013, the company repurchased 8.1 million shares for $324 million;
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