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.