Marriott International and Wyndham Worldwide each reported
higher first-quarter earnings on higher demand for select-service properties.
Marriott’s first-quarter profit jumped 20% from a year
earlier to $207 million. The company reported that revenue per available room
(RevPAR) at North America hotels advanced 6.9%; select-service RevPAR rose 8.3%.
The Courtyard brand had a 9.4% increase in RevPAR, while
Fairfield Inn and TownePlace Suites’ RevPAR numbers were each up more than 8%.
Overall revenue was $3.51 billion, a 6.7% increase, but the number
lagged analysts’ average estimate of $3.59 billion. Marriott’s shares were down
about 3% in Thursday morning trading.
Profit for Wyndham Worldwide’s lodging division rose 16%, to
$79 million. The unit’s revenue jumped 23% from a year earlier, to $292
The division’s RevPAR rose about 2% on higher demand for Days
Inn, Baymont and Microtel Inns. Demand growth was more tepid for the Wyndham,
Super 8 and Ramada brands.