Company reports revealed that demand for Mariott's lodging products is strong. In comparison to comparable US hotels, revenue per available room for managed rate is expected to increase 6.5% to 7.5% in the fourth quarter 2000, says Arne Sorenson, executive vice president and chief financial officer. REVPAR in 2001 is should increase approximately 4%, assuming 2.5% to 3.0% GDP growth.

Company officials expect earnings per share in the 2000 fourth quarter to achieve First Call consensus of $0.58 and, in 2001, $2.17 per share. If the economic slowdown produces growth slower than expected, a one point change in REVPAR is expected to change lodging operating profit by $15 million to $20 million pretax or less than 3% of the operating income.

At the end of 2000, Mariott International's total debt was about $2.1 billion. Investment spending in 2001 is expected to include about $50 million for maintenance and $500 million for new company-developed hotels. Timeshare expenses should total about $200 million to $300 million. About $500 million may be invested in equity slivers, mezzanine financing and mortgage loans. In 2000, Marriott sold 38 hotels and senior living communities totaling $817 million, but it continues to operate the properties.