Marriott International reported a 25% increase in net income during Q2 2015 when compared to the same period last year.
Revenues for the group totalled approximately US $3.7 billion in Q2 2015, compared to nearly $3.5 billion last year.
The increase largely reflects higher RevPAR, new unit growth, the recognition of $5 million of previously deferred base management fees and a $3 million increase in application and relicensing fees, partially offset by $4 million of unfavourable foreign exchange.
RevPAR at worldwide properties increased 5.3% year on year during Q2. While domestic RevPAR in North America increased 5.4%, including a 5.1% increase in ADR, international RevPAR during Q2 grew 4.5% YOY and was constrained during the quarter due to the earlier start of Ramadan.
In the Middle East, system-wide performance indicators at Marriott properties showed a 0.8% increase in RevPAR, and 2.3% increase in occupancy, as well as a 2.9% fall in ADR. Other regions however, including the Caribbean and Latin America, Europe, and Asia Pacific report RevPAR increases of at least 5.3% or more.
Furthermore, Marriott International added 101 new properties to its global portfolio in Q2, including 37 properties from the Delta Hotels and Resorts acquisition
Click to read full article at: Hotelier Middle East