Marriott International Reports Second Quarter EPS Of $0.50, Up 19% From $0.42 A Year Ago

Marriott International, Inc. (NYSE:MAR) today reported diluted earnings per share of $0.50 for the second quarter ended June 16, 2000, up 19 percent from $0.42 in the year earlier time period. Net income increased 11 percent over the prior year`s second quarter to $126 million. Reported sales totaled $2.4 billion, an increase of 17 percent compared to the 1999 second quarter. Systemwide sales, which include sales of managed and franchised properties, grew 13 percent to $4.8 billion.

J.W. Marriott, Jr., chairman and chief executive officer of Marriott International, said the company`s second quarter operating results exceeded expectations. We saw substantial improvement in demand during the second quarter across all of our brands, resulting in outstanding growth in REVPAR (revenue per available room) over last year. We had particularly exciting results in several major markets, including New York, Boston, San Francisco and Hong Kong. In addition, summer travel trends continue to look quite favorable.

Internet bookings year-to-date have already surpassed 1999 full year levels. In addition, we are on track to open over 38,000 hotel rooms and timesharing villas in our worldwide lodging portfolio in 2000, Mr. Marriott continued.