– Marriott International Inc (MAR.O) reported a 7.7 percent rise in fourth-quarter revenue as more people booked its rooms at higher prices, helping the company reaffirm its 2018 forecast for a key performance metric.
The world’s largest hotel chain said its revenue rose to $5.88 billion in the quarter ended Dec. 31 from $5.46 billion a year earlier.
Net income fell to $201 million, or 54 cents per share, from $244 million, or 62 cents per share, a year earlier.
Excluding a charge related to changes in the U.S. tax law and other adjustments, Marriott earned $1.12 per share.
Reporting by Ankit Ajmera in Bengaluru;