Marriott's earnings fall on short quarter

Hotel chain Marriott International says its shorter, 112-day, fourth quarter profit has fallen 17 per cent to $US151 million.

Marriott International says its fourth-quarter earnings has fallen 17 per cent after the hotel company shortened its quarter.

The hotel chain, best known for brands like Courtyard, Ritz-Carlton and Fairfield Inn, on Wednesday reported net income of $US151 million ($A168.22 million), or 49 US cents per share, for the 92 days that ended December 31.

That was down from the $US181 million, or 56 US cents per share, it earned in 2012 during a 112-day quarter.

The Maryland-based company is changing its reporting calendar.

Marriott says revenue fell 14 per cent, to $US3.22 billion from $US3.76 billion.

Wall Street had predicted the company would earn 49 US cents per share on revenue of $US3.37 billion, according to FactSet.

Shares are down seven US cents to $US51.47 in after-hours trading.


1 min read

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Source: AAP


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