Marriott Beats Estimates But Guidance Disappoints

marriott grand

Marriott International reported Q3 adjusted earnings of 29 cents per share, up 32% from a year ago.

This beat analysts’ estimate of 27 cents per share.

Net revenue increased 9% to $2.87 billion.  Revenue per available room (REVPAR) grew 8.7%.

However guidance disappointed.

“We are cautiously optimistic about 2012,” said CEO JW Marriott Jr.  “While there is considerable economic uncertainty, assuming worldwide systemwide REVPAR growth of 3 to 7 per cent, our earnings per share could total $1.48 to $1.68 per share and return on invested capital could increase substantially.”

Analysts were expecting $1.72 per share for 2012.

Shares are flat in after hours trading.

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