to 5 percent to 6 percent year over year, down from its earlier projection of 6 percent to 8 percent.
Projected small-group booking levels did not materialize, Marriott CFO Carl Berquist said, and four particular markets were coming in below expectations: New York, Orlando, Atlanta and Washington, D.C. Transient travel otherwise was coming in as expected, Berquist said, adding that he did not see a loss in market share from rate increases achieved during corporate negotiations.