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Marriott International Reports Solid Q1 Results

Marriott International Reports Solid Q1 Results

Marriott International posted a better-than-expected quarterly profit as increased business travel boosted occupancy and allowed the company to raise room rates in North America, Reuters reports. The company said comparable systemwide revenue per available room rose 6.3 percent in North America in the first quarter ended March 31. Marriott was helped also by higher business group bookings as Easter fell after the quarter ended, unlike last year when the holiday hurt business bookings in the March quarter. Marriott’s average daily room rate rose 3.3 percent to $141.66 across its properties in North America. Read more over at Reuters.

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