Marriott outlines plans for ambitious growth

Marriott outlines plans for ambitious growth

Hotel giant Marriott International has predicted that its accommodation earnings could reach new highs in the next three years. With plans to add at least 80,000 to 90,000 hotel rooms to its portfolio from 2011 through 2013 - with additional opportunities for 22,000 rooms to open in Europe and Asia - the company was in buoyant mood at its security analyst conference. The company told investors that, assuming growth scenarios of Revenue Per Available Room (RevPAR) of five to nine percent compounded annually over the next three years, diluted earnings per share (EPS) could be well above the highest earnings achieved during Marriott’s recent history. “We are on the threshold of extraordinary growth for our company,” said J.W. Marriott, Jr., chairman and chief executive officer. “As we look ahead over three years, Marriott is poised to deliver substantial gains in bottom line results, as well as meaningful returns to hotel owners and shareholders, as our industry-leading portfolio of brands both recovers from the recent recession and grows worldwide.”

Gary Marshall
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Gary Marshall
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