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 $17.12. However, the share price has since been fluctuating, reflecting the trends within the hospitality sector. o Whitbread has put its 46 Marriott-branded hotels across the UK and Ireland up for sale. Marriott will continue to manage the properties at least until buyers are found. The sale will raise a minimum of Â£1 billion (US$ 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.
[...] Holiday Inn hotel offers travellers full-service amenities such as restaurants and room service, swimming pool, and fitness centre and, 24-hour business services. Located only in North and South America near business centres and airports, Holiday Inn Select hotels feature business rooms, 24-hours business services and meeting facilities. These hotels are aimed at family. The hotels provide trained activities Coordinators schedule adult events and supervise children's activities. Full service, mid market, mid price hotels. They are typically located in and around major cities, in smaller cities and airports. [...]
[...] o EMEA operating profit was up 29% from million to £119 million, driven by market share gains in the UK, the ongoing recovery of the Le Grand InterContinental, Paris and growth across its business portfolio . o Asia Pacific operating profit was up 105% from $19 million to $39 million, driven by the strong performance in China and of the InterContinental Hong Kong versus weak comparables of the SARS- affected 2003. o Shareholders in InterContinental Hotels could receive a further billion after more sales from its portfolio of hotels. [...]
[...] Enhancements to SPG.com include a customised "My Favourites" quick link for bookings, a redesigned special offers section where members can search by activity, location, date, hotel brand, and the ability to access future reservations and account activity without leaving the home page Awards o In the January 2005 Conde Magazine issue Starwood hotels and resorts were included on Conde Nast Traveler's Gold List and Gold List Reserve. o Starwood's Preferred Guest was voted Program of the Year in both America and worldwide during the 16th annual Freddie awards. [...]
[...] o Marriott International expects the hotel industry to be very successful in 2005 mainly due to the strong US economy and an increase in the number of travellers in markets such as China. o In February 2005, residents and environmental groups demonstrated in Isla Verde (Puerto Rico) for the second time to protest against the building of a new Marriott hotel. The groups are demanding that the project be stopped and permits to constructors cancelled. The protestors have demanded that a full environmental impact study be carried out Strategy o Marriott has announced an overhaul of its flagship brand. [...]
[...] The brands will be introduced under a management agreement with the Beijing Guohua Real Estate Company Planned Openings: o This section focuses on planned openings within Marriott's portfolio Brand Hotel Name Location Opening Date Marriott Al Habtoor Marriott Colombes France Marriott Marriott Cusco Peru TBA o From the above table, it is apparent that Marriott is focusing on strengthening its brand within Asia Pacific Product Development o Following extensive market research, Marriott has announced an overhaul of its flagship brand. [...]
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