Marriott International’s fourth-quarter net income jumped 28% from a year earlier, partly because of higher demand for select-service hotels in North America.
Marriott’s net income was $181 million. Revenue increased 1.7% to $3.76 billion.
Revenue per available room (RevPAR) at hotels in North America rose 5.9%, primarily on room-rate increases. RevPAR at select-service brands in North America, including Courtyard and Residence Inn, rose 6%, while RevPAR at North America full-service hotels was up 5.7%.
Global RevPAR increased 5.2%, excluding currency effects. RevPAR at Europe hotels increased 1.8%, and 3.4% in the Asia-Pacific region.
Marriott’s stock was down about 1% in after-hours trading Tuesday after the company said first-quarter RevPAR growth would slow to between 3% and 6%.
Marriott also forecast a first-quarter earnings midpoint of 39.5 cents a share, less than the 40 cents estimated by analysts in a Thomson Reuters survey.
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