Marriott Posts Impressive Quarterly Profit

 Marriott International met the high end of its financial expectations for the third quarter, reporting last week a net income of $83 million -- compared with a $466 million loss for the same quarter last year. Worldwide revenue per available room was up 8.2 percent for the quarter, while average daily rate showed a modest increase of 1.8 percent. Incentive fees were up by 24 percent. The company is having "an outstanding year," CEO J.W. Marriott Jr. noted in a financial statement, adding that increasing room rates are promising -- nearly 90 percent of North American properties raised corporate retail rates in the third quarter. In other news, the hotel chain has reported it has cut both its energy consumption and greenhouse emissions by 11 percent. Officials also say the company's properties are on track to decrease water consumption per available room by 25 percent by 2017. The number of Marriott's LEED-registered and ‚Äìcertified hotels has increased from 17 to 67.