Marriott International, Inc. Executive Vice President and Chief Financial Officer Carl Berquist will tell a conference today that the company expects its worldwide systemwide revenue per available room (RevPAR) in the 2011 first quarter to increase approximately 7 percent, at the low end of the company’s 7 to 9 percent first quarter guidance.
Speaking at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum here, Mr. Berquist will say demand in international markets has been robust and international systemwide RevPAR is expected to increase 11 percent in constant dollars in the 2011 first quarter. For full-year 2010, approximately 65 percent of the company’s incentive fees were derived from international properties.
Although overall North American RevPAR growth remains strong year-over-year, North American RevPAR growth has been modestly lower than expected, especially in large group hotels in markets such as New York, Atlanta, Orlando and Washington, D.C. The company expects North American systemwide RevPAR growth of 5 to 6 percent for the first quarter of 2011.
Mr. Berquist will reiterate the company’s diluted earnings per share guidance for the first quarter of $0.24 to $0.28 per share. The company will release its first quarter 2011 results at approximately 5:00 p.m. eastern time on April 20, and discuss the quarter and outlook for 2011 in more detail on its earnings conference call on April 21 at 10:00 a.m. eastern time.