Business News
Marriott: Fuller beds pull hotel chain into black
Apr 22, 2010, 22:51 GMT
Bethesda - US-based hotel chain Marriott Thursday said an upswing in business travel had pulled the company back into the black, with 83 million dollars in net earnings, compared to losses of 23 million dollars in the same quarter of 2009.
Revenues were up 5 per cent to 2.6 billion dollars.
It was 'shaping up to be a good year,' said chairman and chief executive officer JW Marriott in a statement.
Marriott shortened work hours, froze hiring and reduced investment spending to cut costs during the recession-related slump in travel demand in 2009.
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