Marriott International Reports on Fourth Quarter 2000

WASHINGTON, DC-A fixed income investor group learned that Marriot International Inc. is doing well and expects continued growth, according to company officials.

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.