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Marriott Reports Losses for Q3 2011

The American group is down $179 million during the third quarter, but RevPAR is up 8.7% and average daily rate is up 5.3%.

Third Quarter Highlights

-* Marriott repurchased 18.0 million shares of the company’s common stock for $550 million during the quarter. Year-to-date through September 9, 2011, the company repurchased 36.5 million shares for $1.2 billion.-* Adjusted diluted earnings per share (EPS) totaled $0.29, a 32 percent increase over prior year results;-* Worldwide comparable systemwide revenue per available room (REVPAR) rose 8.7 percent using actual dollars. Average daily rate rose 5.3 percent using actual dollars;-* At the end of the third quarter, the company’s worldwide pipeline of hotels under construction, awaiting conversion or approved for development increased to more than 105,000 rooms, including over 47,000 rooms outside North America and more than 26,000 rooms in Asia;-* Nearly 6,000 rooms were added to the worldwide lodging portfolio during the third quarter, including approximately 3,000 rooms in international markets and nearly 1,100 rooms converting from competitor brands;


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