Marriott expects worldwide revpar next year “to increase at a mid-single-digit rate despite moderate economic growth in many markets around the world,” Sorenson said in today’s statement. He said he is “particularly bullish” about North America, where revpar probably will rise 5 percent to 7 percent in 2013.
For the fourth quarter, the company today forecast earnings of 52 cents to 56 cents a share. Marriott said it expects investment spending to total $850 million and $950 million this year, including about $100 million for maintenance capital spending.
Marriott’s third-quarter revenue climbed to $2.73 billion from an adjusted $2.52 billion, which excludes results from the timeshare business.
The company said it bought back 9.6 million shares of common stock in the third quarter for $353 million.
Marriott released its results after the close of regular U.S. trading. Its shares rose 1 percent to $39 today. They have gained 34 percent this year.
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