Abstract
Marriott International's Q1 2005 net income was $145 million, a 27% increase compared to the same period last year. Marriott International recorded earnings per share (EPS) of $0.61 in the first quarter of 2005, up 30% from the same period in 2004.Management fees increased 52%, driven by 9.2 % growth (using actual exchange rate) in global REVPAR. Marriott has continued its share repurchase programme with the repurchase of 5.1 million shares of stock for $328 million. Since 2000, Marriott has repurchased over 54 million shares for $2.2 billion. o In March 2005, Marriott recorded a 3-month share price high of $17.12. However, the share price has since been fluctuating, reflecting the trends within the hospitality sector. o Whitbread has put its 46 Marriott-branded hotels across the UK and Ireland up for sale. Marriott will continue to manage the properties at least until buyers are found. The sale will raise a minimum of £1 billion (US$ 1.92 billion) over the coming two years. o Marriott International added 27 hotels and timeshare units (4,525 rooms) to its portfolio during the first quarter of 2005. o Marriott is planning to open 19 properties by end-2006 in the Asia-Pacific-Australia region, with the opening of resorts in Fiji and China, along with its first hotels in Taiwan and New Zealand.
