SECOND QUARTER HIGHLIGHTS
• Diluted earnings per share (EPS) totaled $0.42, a 24 percent increase over prior year adjusted results;
• On a constant dollar basis, worldwide comparable systemwide
REVPAR rose 6.7 percent. Average daily rate rose 4.1 percent using
constant dollars;
• At the end of the second quarter, the company’s worldwide
pipeline of hotels under construction, awaiting conversion or approved
for development totaled approximately 115,000 rooms, not including the
nearly 8,000 rooms from the planned acquisition of the Gaylord brand and
hotel management business;
• Over 5,000 rooms opened during the quarter, including over
1,300 rooms converted from competitor brands and nearly 2,700 rooms in
international markets;
• Marriott repurchased 10.5 million shares of the company’s
common stock for $400 million during the quarter. Year-to-date through
the second quarter, the company repurchased 14.7 million shares for $550
million;
• For comparable Marriott Hotels & Resorts properties in
North America, group room revenue increased nearly 8 percent in the
second quarter compared to the year ago quarter. Group booking pace is
up 10 percent for the remainder of 2012;
• Earnings
before interest, taxes, depreciation and amortization (EBITDA) totaled
$289 million in the quarter, a 13 percent increase over second quarter
2011 adjusted EBITDA.
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