Marriott International today reported signs of resurgence in business travel as it released fourth-quarter and full-year performance results.
During the final quarter of 2009, revenue per available room for Marriott-operated properties decreased by 12.2 percent globally and by 13.1 percent in North America. Average daily rate was down by slightly more than 11 percent both in North America and worldwide for the quarter.
Similar to Starwood Hotels & Resorts' performance last week
(BTNonline, Feb. 5), Marriott said its performance beat expectations and attributed it in part to a business travel rebound, particularly for international destinations. Marriott chairman and CEO J.W. Marriott, Jr., said in a statement that the company also benefited from leisure travelers taking advantage of special deals.
For the full year, Marriott's RevPAR was down 20 percent worldwide and 18.5 percent in North America, compared with 2008.
Marriott also said it opened a total of 38,000 rooms in 2009 and that its current global pipeline stands at about 100,000 rooms. This year, Marriott plans to open the first properties in two new brands: Edition, a luxury boutique hotel brand, and the Marriott Autograph Collection, a mix of luxury and upper upscale properties.