Marriott's average daily rate at North American company-operated properties during its most recent accounting period including May increased 1 percent, "the first room rate increase in nearly two years," according to the company

. Speaking during the New York University International Hospitality Industry Investment conference, Marriott president and COO Arne Sorenson said "demand has come back aggressively" and corporate rates in 2011 likely would increase. "We have had a few months of pretty stunning numbers," he said. "If you look at the cycles in this industry, the years after recessions have been spectacular."