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Marriott says global growth to aid profit
June 18, 2012 / 9:46 PM / 5 years ago

Marriott says global growth to aid profit

June 18 (Reuters) - Marriott International said global expansion will fuel its earnings growth as it adds 90,000 to 105,000 hotel rooms worldwide this year through 2014.

The company, whose brands include Courtyard, Residence Inn and Ritz-Carlton, said on Monday in a statement ahead of a meeting with analysts and investors in China that it is on track to have 4,000 hotels in 90 countries by 2014. In China, Marriott expects to have more than 100 hotels by 2014, it added.

Marriott said per share profit could reach $2.45 to $2.85 in 2014, assuming growth of 6 percent to 8 percent in global systemwide revenue per available room for 2012 through 2014.

Analysts, on average, currently expect 2014 profit for Marriott of $2.38 a share, according to Thomson Reuters I/B/E/S.

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