Marriott International Earnings: Investors May Not Stay the Night
S&P 500 (NYSE:SPY) component Marriott International, Inc. (NYSE:MAR) reported its results for the first quarter. Marriott International, Inc. operates and franchises hotels and related lodging facilities throughout the world.
Marriott International Earnings Cheat Sheet for the First Quarter
Results: Net income for the lodging company rose to $101 million (26 cents/share) vs. $83 million (22 cents/share) a year earlier. A rise of 21.7% from the year earlier quarter.
Revenue: Rose 5.6% to $2.78 billion YoY.
Actual vs. Wall St. Expectations: MAR fell short of the mean analyst estimate of 27 cents/share. Estimates ranged from 25 cents per share to 30 cents per share.
Quoting Management: J.W. Marriott, Jr., Marriott International chairman and chief executive officer, said, “We achieved strong financial results in the 2011 first quarter, benefiting from improved economic climates in most markets around the world, strong unit growth and continued operating efficiencies across our company.”
Competitors to Watch:Starwood Hotels & Resorts Worldwide, Inc (NYSE:HOT), Wyndham Worldwide Corporation (NYSE:WYN), Hyatt Hotels Corporation (NYSE:H), Intercontinental Hotels Group plc (NYSE:IHG), and Silverleaf Resorts, Inc. (NASDAQ:SVLF).
Today’s Performance: Shares of MAR are are down 0.8 percent.