Marriott CFO Says International Markets Strong

Marriott International’s Executive Vice President and Chief Financial Officer, Carl Berquist, told a conference earlier this week that the company expects its worldwide system-wide RevPAR in the 2011 first quarter to increase approximately 7%, at the low end of the company’s 7 to 9% first quarter guidance.

Speaking at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, Mr. Berquist said demand in international markets has been robust and international system-wide RevPAR is expected to increase 11% in constant dollars in the 2011 first quarter. For full-year 2010, approximately 65% of the company’s incentive fees were derived from international properties.

Although overall North American RevPAR growth remains strong year-over-year, North American RevPAR growth has been modestly lower than expected, especially in large group hotels in markets such as New York, Atlanta, Orlando and Washington, D.C. The company expects North American system-wide RevPAR growth of 5 to 6% for the first quarter of 2011.

Mr. Berquist reiterated the company’s diluted earnings per share guidance for the first quarter of $0.24 to $0.28 per share.

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