Marriott Beats Estimates In Q3

WASHINGTON DC Marriott International has reported diluted earnings per share of $0.43 for the third quarter ended September 8, 2000, up 19% from $0.36 in 1999 and beating analysts forecasts. Analysts polled by First Call/Thomson Financial had forecast on average earnings of 42 cents per share. Net income increased 15% over the prior years third quarter to $110 million. Reported sales totaled $2.3 billion, up 15% compared to the 1999 third quarter.

J.W. Marriott, Jr., chairman and chief executive officer of Marriott International, said the companys third quarter operating results were outstanding. “Revenues per available room growth for the quarter were the strongest weve seen in 3 years. The number of business and leisure travelers staying at Marriott brands reached record levels this summer, reflecting a continued strong economy in the U.S. and improving economic conditions in Asia. (9/28/00)