Marriott International Reports Third Quarter EPS Of $0.43, Up 19% From $0.36 A Year Ago

Marriott International, Inc. (NYSE:MAR) today reported diluted earnings per share of $0.43 for the third quarter ended September 8, 2000, up 19 percent from $0.36 in 1999. Net income increased 15 percent over the prior year`s third quarter to $110 million. Reported sales totaled $2.3 billion, up 15 percent compared to the 1999 third quarter.

J.W. Marriott, Jr., chairman and chief executive officer of Marriott International, said the company`s third quarter operating results were outstanding. Revenues per available room growth for the quarter were the strongest we`ve seen in 3 years. The number of business and leisure travelers staying at Marriott brands reached record levels this summer, reflecting a continued strong economy in the U.S. and improving economic conditions in Asia.
Equally impressive, our year-to-date growth rate in room openings is nearly triple the U.S. industry average, according to the latest Smith Travel Research data. In total, we expect to open 37,000 to 39,000 rooms in 2000, he continued.