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Thursday, Jun 1, 2023

Marriott reports lower 3rd-quarter profit and warns of tough 2009 amid economic turmoil

BETHESDA, Md. (AP) _ Hotel company Marriott International Inc. said Thursday that its third-quarter profit dropped 28 percent, and warned investors about deteriorating conditions for 2009 amid the ongoing financial crisis. Marriott attributed its earnings shortfall to softening North American revenue per available room and a weakening timeshare business. Revenue per available room, or revpar, is considered a key gauge of a hotelier’s performance. For the full story visit www.latimes.com/business/nationworld/wire/ats-ap-earns-marriott-internationaloct02,1,226692.story

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