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Hotel chain Marriott's quarterly revenue rises 10.2 pct
November 7, 2016 / 9:52 PM / 10 months ago

Hotel chain Marriott's quarterly revenue rises 10.2 pct

Nov 7 (Reuters) - Marriott International Inc reported a 10.2 percent rise in quarterly revenue, as the hotel chain gained from the acquisition of Starwood Hotels and Resorts Worldwide Inc.

However, the company, which operates Marriott, Courtyard and Ritz Carlton brands, said net income fell to $70 million, or 26 cents per share, for the quarter ended Sept. 30 from $210 million, or 78 cents per share, a year earlier.

Profit in the latest quarter was hit by $228 million in merger-related costs

Revenue increased to $3.94 billion from $3.58 billion.

Marriott completed the roughly $13 billion acquisition of Starwood, the operator of Sheraton and Westin hotels, in September to create the world’s largest lodging company with about 5,700 hotels and 1.1 million rooms. (Reporting by Shashwat Awasthi in Bengaluru; Editing by Sriraj Kalluvila)

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