Marriott International’s fourth-quarter results indicated that U.S. luxury demand remained strong while total growth tapered off.
Marriott said revenue per available room (RevPAR) in the U.S. increased 4.7% from a year earlier, down from 5.4% for all of 2013.
For all full-service and luxury hotels in the U.S., RevPAR rose 5.9% in the fourth quarter. Ritz-Carlton’s RevPAR for U.S. hotels increased 10.4%, and the Autograph Collection’s jumped 16.5%.
U.S. RevPAR for Marriott’s flagship badge rose 5.2%, while Courtyard RevPAR increased 4.5%. For Renaissance and Residence Inn hotels in the U.S., RevPAR rose 2.3%
The company’s worldwide fourth-quarter RevPAR advanced 4.3%. Growth of 7.1% in the Caribbean and Latin America far exceeded 3.3% growth in Europe and 3.8% growth in Asia Pacific. There was a 10.7% RevPAR decline and a 7-point drop in occupancy in the Middle East and Africa.
Marriott’s fourth-quarter net income fell 17% from a year earlier to $151 million, while revenue declined 14% to $3.22 billion, because the accounting period was 20 days shorter than it was the year prior.
Marriott is now reporting quarterly results on a calendar basis, and it did not restate last year’s results, which were reported on a period basis.
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