BETHESDA (dpa-AFX) - U.S. hotel chain Marriott International Inc. (MAR) Monday said it expects earnings could reach $2.45 to $2.85 per share in 2014, driven mainly by growth in revenue per available room.
Marriott said it could generate between $1.8 billion and $1.9 billion in worldwide fee revenue through 2014, assuming compound worldwide systemwide RevPAR growth of 6 to 8 percent.
The company is in track to have 4,000 hotels in 90 countries across its 14-brand lodging portfolio by 2014. Marriott also anticipates to open between 90,000 and 105,000 new rooms around the world in 2012 through 2014.
Chief Executive Arne Sorenson said, 'China is a fitting place to present our tremendous global growth story and discuss our outstanding financial prospects. Even today, China is our second most important market after North America, representing roughly 5 percent of total fees. On average we expect to open a hotel a month in this country over the next three years.'
Marriott also expects to have more than 100 hotels across nine brands and nearly 40 markets in China by 2014.
Copyright RTT News/dpa-AFX