Marriott Q4 RevPAR Rose 5.2%
Wednesday February 20th, 2013 - 8:12AM X
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BETHESDA, MD–Marriott International reported that fourth quarter 2012 RevPAR increased 5.2%, compared to the same period in 2011.
For the full year 2012, RevPAR increased 6.1%. At year end, the company's worldwide pipeline of hotels under construction, awaiting conversion or approved for development increased to nearly 130,000 rooms, including almost 59,000 rooms outside North America.
Over 27,000 rooms were added to the Marriott system in 2012. In the fourth quarter alone, nearly 14,000 rooms were added, including 8,100 Gaylord-branded and 2,800 rooms in international markets. The company signed a record 57,000 rooms in 2012.
For full-year 2013, Marriott expects North American and worldwide systemwide RevPAR to increase 4%-7%.
Tags: • Hospitality • Quarterly Results •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.