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UPDATE 2-Marriott eyes dividends, buybacks, rising revPAR
October 27, 2010 / 12:19 PM / 7 years ago

UPDATE 2-Marriott eyes dividends, buybacks, rising revPAR

* Sees approximate EPS between $1.90 and $2.75 by 2013

* Sees revPAR up between 5 and 9 pct over next 3 yrs

* Shares flat (Rewrites, adds brands, investment, shareholders, shares)

NEW YORK, Oct 27 (Reuters) - Marriott International Inc MAR.N said on Wednesday it could return between $3.3 billion and $5.3 billion to shareholders between 2011 and 2013 through dividends and share repurchases.

The company also said it could surpass its 2007 peak earnings by 2013.

Assuming growth in revenue per available room, or revPAR, of between 5 percent and 9 percent over the next three years, earnings per share could be between $1.90 and $2.75 by 2013, the company said ahead of an investor meeting on Wednesday.

It expects to add at least 80,000 to 90,000 hotel rooms between 2011 and 2013 and plans to expand new brands such as Edition and the Autograph Collection outside the United States.

Over the next three years, the company will also invest between $2.3 billion and $2.7 billion in its business.

Marriott’s shares were roughly flat at $37.81 per share in light premarket trading. (Reporting by Helen Chernikoff, editing by Gerald E. McCormick and Derek Caney)

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