Marriott Reverses 4Q Loss; Occupancy Above Expectations | wsj.com
Marriott International Inc.'s (MAR) better-than-expected earnings offered Wall Street further proof that the hobbled hotel industry is getting its legs back following a brutal recession. Yet, the coast is far from clear as high unemployment and tepid consumer spending persists, a threat to a robust recovery. Marriott reversed a prior-year loss in the fourth quarter caused by a $55 million restructuring charge and weak demand. In the latest quarter, the lodging company benefited from cost controls and better-than-expected occupancy rates, though revenue declined amid aggressive promotions.
