The fourth quarter, ending Dec. 29, 2000, earnings per share were $0.59, up 74% from $0.34 in the last quarter of 1999. Net income increased to $149 million, up from $90 million in 1999. Sales totaled $3.2 billion in the 2000 fourth quarter, up 12% from $2.8 billion a year ago.
J.W. Marriott, Jr., chairman and chief executive officer, says the comparable revenue per available room growth in their domestic lodging brands is strong 6.7%. The firm showed one full percentage point improvement in house profit margin in the fourth quarter for the Marriott Hotels, Resorts & Suites, Renaissance and Residence Inn brands in the US.
The company opened 17,000 new rooms in the fourth quarter and 39,995 for the year. Nearly 30% percent of the new room openings represented conversions to the Marriott brands.
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