Last updated: October 30. 2013 5:37PM - 445 Views
Associated Press

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(AP) Marriott International's third-quarter earnings rose 12 percent thanks to higher occupancy, room rates and a pickup in short-term group bookings.

The company, best known for hotel brands like Courtyard, Ritz Carlton and Fairfield Inn, reported net income of $160 million, or 53 cents per share, up from $143 million, or 45 cents per share last year. The company had $3.16 billion in revenue, up 16 percent.

Analysts, on average, expected earnings of 45 cents per share and revenue of $3.04 billion, according to FactSet.

The company's revenue per available room or REVPAR was $104.77, up 4.8 percent from the prior year. Analysts had predicted it would be $104.

The Bethesda, Md.-based company changed its reporting calendar and this year's quarter is eight days longer than last year.

Associated Press
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