Group Business Drives Strong First Quarter for Marriott

Marriott Hotels and Resorts reported strong first-quarter results last week, including a systemwide increase of 6.8 percent in revenue per available room and a hike in average daily rate by 3.5 percent for the first three months of the year. Room revenue from groups rose approximately 6 percent for the quarter, and group bookings for the remainder of the year are 11 percent higher than they were at this time in 2011. “Results were terrific in the first quarter of 2012,” said Marriott president and CEO Arne Sorenson in a statement. “Group business strengthened in the first quarter with increasing occupancy, room rates and greater group spend on food, beverage and other services. Transient business also was strong.” Additionally, room revenue from negotiated corporate business rose by more than 9 percent in the quarter.