The Canadian PressMay 1, 2013 16:31
NEW YORK, N.Y. - Marriott International Inc. says it turned a better-than-expected profit in its first quarter thanks to higher room rates and a return of events by large groups.
The company, based in Bethesda, Md., said Wednesday that it earned $136 million, or 43 cents per share, in the three-month period that ended March 31. That's up from $104 million, or 31 cents per share, a year ago. A change in the company's fiscal year meant nine extra days in the quarter this year compared to last.