A Second-Quarter Rise In Revenue And Profit For Marriott
Jul 13, 2012
Marriott International reported a second-quarter net income for 2012 of US$143 million, a 13% rise on the same period in 2011. EBITDA also increased by 13% for the quarter, reaching US$289 million. Total revenue for the second quarter of the year was nearly US$2.8 billion, compared to US$2.6 billion for the second quarter of 2011. RevPAR for international comparable systemwide properties rose by 6.7% and the group’s base management and franchise fees increased by 6%. At the end of the second quarter, total debt was US$2,560 million compared to US$2,171 million at year-end 2011. “In the second quarter, our business performed well in most markets around the world,” said Arne Sorenson, Marriott’s president and chief executive officer. “In Europe, more travellers from the United States, Russia and China helped move RevPAR higher,” he added.