February 14, 2018 / 9:48 PM / 8 months ago

Marriott quarterly revenue rises 7.7 percent

(Reuters) - Marriott International Inc (MAR.O) reported a 7.7 percent rise in fourth-quarter revenue as more people booked its rooms at higher prices, helping the company reaffirm its 2018 forecast for a key performance metric.

FILE PHOTO: A JW Marriott hotel is seen in Los Angeles, California U.S. November 7, 2017. REUTERS/Lucy Nicholson/File Photo

The world’s largest hotel chain said its revenue rose to $5.88 billion in the quarter ended Dec. 31 from $5.46 billion a year earlier.

Net income fell to $201 million, or 54 cents per share, from $244 million, or 62 cents per share, a year earlier.

Excluding a charge related to changes in the U.S. tax law and other adjustments, Marriott earned $1.12 per share.

Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur

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