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Marriott posts $179M profit on higher occupancy

Published August 1, 2013 9:00 am

This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Hotel giant Marriott says second-quarter earnings rose as business and leisure travelers continue to book hotel rooms and pay slightly more for them.

The company, based in Bethesda, Md., said Wednesday that it earned $179 million, or 57 cents a share, in the three-month period ended June 30. That's up from $143 million, or 42 cents per share, a year ago.

A change in the company's fiscal year meant seven extra days in the quarter this year compared to last year.

Revenue at Marriott International Inc. rose 18 percent to $3.26 billion.

Analysts expected earnings of 57 cents per share and revenue of $3.20 billion, according to FactSet.