July 16, 2010 - 08:10 AM ET

Marriott International reported second quarter net income of $119 million, up 42 percent from a year earlier . Corporate room nights booked at Marriott Hotels & Resorts-branded properties increased 16 percent year over year. "Special corporate" room nights--those used by clients with negotiated rates--rose 21 percent. Negotiated rates on average were lower by 3 percent in the quarter. COO Arne Sorenson said he expects such rates in 2011 to increase by high single digit percentages, though "even a 10 percent [increase] on those rates in special corporate accounts is going to leave us quite short of where we were in 2007."