Τελευταία νέα
HomeRegional NewsAfricaMarriott 2Q profit declines 76 percent
Net income plummeted to $37m.

Marriott 2Q profit declines 76 percent

Marriott International says lower revenue and hefty restructuring charges pushed down its net income 76 percent in the second quarter. Marriott and other hotel operators have suffered in the recession as both business and leisure travel wane.

Net income plummeted to $37 million, or 10 cents per share, from $157 million, or 42 cents per share. Excluding restructuring and other charges, profit was 23 cents per share, 2 cents better than the average analyst forecast.

Revenue slid 20 percent to $2.56 billion, while revenue per available room, a key metric for lodging companies, declined 26.1 percent.

The Bethesda, Md., company says its third-quarter income could be as low as 9 cents per share, or less than half the current analyst estimate.

Co-Founder & Managing Director - Travel Media Applications | Website | + Posts

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

03/02/2023
02/02/2023
01/02/2023
31/01/2023
30/01/2023