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FINANCIAL NEWS
Marriot’s earnings in ME up 7 percent
01 Aug 2014
(MENAFN) Strong performances in the UAE, Bahrain and Saudi Arabia for Marriott International helped to offset lower results from its hotels in Egypt in the second quarter of the year, according to Arabian Business.
The company’s total net income was estimated at USD192 million, up 7 percent year-on-year, from revenues of USD3.5 billion, compared to USD3.3 billion during the same period in 2013.
Systemwide, revenue per available room (RevPAR) was up 5.8 percent to USD116.63, while occupancy was up 1.7 percent to 77 percent. Meanwhile, the average daily rate (ADR) was up 3.5 percent to USD151.39.
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