Marriott posts $179M profit on higher occupancy

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By The Associated Press, Associated Press

Hotel giant Marriott says second-quarter earnings rose as business and leisure travelers continue to book hotel rooms and pay slightly more for them.

The company, based in Bethesda, Md., said Wednesday that it earned $179 million, or 57 cents a share, in the three-month period ended June 30. That's up from $143 million, or 42 cents per share, a year ago.

A change in the company's fiscal year meant seven extra days in the quarter this year compared to last year.

Revenue at Marriott International Inc. rose 18 percent to $3.26 billion.

Analysts expected earnings of 57 cents per share and revenue of $3.20 billion, according to FactSet.

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