Marriott International Inc. reported a 28% decrease in fiscal third-quarter net income as it warned that fourth-quarter results will miss expectations and said 2009 is shaping up to remain "unusually challenging." With increased travel costs and a slowing economy, hotels are seeing less corporate travel and tougher rate negotiations, J.P. Morgan said in a note last week when lowering its rating on the Marriott to "neutral." Hotels also have higher cancellations of group travel plans and softening international revenue for the period ended Sept. 5. The Bethesda, Md.,-based company recorded net income of $94 million, or 26 cents a share, down from $131 million, or 33 cents, a year earlier. The latest quarter's results included an eight-cent reserve from losing a case regarding a 1994 tax-planning move. In July, the company projected earnings excluding items of 30 cents to 35 cents a share.

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