Marriott RevPAR and Rates Up, Q2 Results Exceed Expectations

 Marriott International reported a nearly 10 percent year-over-year increase in revenue per available room for the second quarter worldwide, as well as a 1.2 percent hike in the average daily rate -- the first such increase in almost two years. The results exceeded not only last year's performance, but also the company's expectations for diluted earnings per share. Marriott reported a second quarter net income of $119 million, which represents a 42 percent increase compared to the adjusted net income from the second quarter in 2009. Continued rate increases now are being forecast for the remainder of 2010 and in 2011, according to chairman and CEO J.W. Marriott, Jr.