Select-service brands boost Marriott's profit

Marriott International’s second-quarter net income rose 7.3%, to $192 million, as demand increased for select-service hotels in the U.S.

Marriott’s revenue per available room, factoring out exchange-rate changes, rose 5.8% from a year earlier. North American RevPAR advanced 6%, while Caribbean and Latin America RevPAR jumped 11%. Europe RevPAR rose just 1.6%.

U.S. revenue increases were driven largely by Marriott’s select-service brands such as Fairfield Inn, SpringHill Suites and TownePlace Suites.

Marriott’s revenue rose 6.8%, to $3.48 billion.
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