Marriott moves to profit in 4th quarter

[February 11, 2010]  BETHESDA, Md. (AP) -- Hotel operator Marriott International says it moved to a fourth-quarter profit as leisure travelers took advantage of promotions and business travel improved.

The lodging company earned $106 million, or 28 cents per share.

Removing restructuring charges and other items, adjusted income from continuing operations was 32 cents per share.

Analysts forecast profit of 26 cents per share.

Marriott, whose hotels include Ritz Carlton and its namesake, says revenue dropped to $3.38 billion.

Wall Street expected $3.21 billion.

A key North American revenue figure fell 13.1 percent in the quarter.

The Bethesda, Md., company anticipates first-quarter earnings from continuing operations of 15 cents to 21 cents per share and 2010 earnings of 82 cents to 94 cents per share.

[Associated Press]

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