Marriott Niagara Falls.
April 26, 2010
Marriott International has reported that a strong increase in business travel boosted occupancy in the first quarter of this year and it soon expects to be positioned to begin increasing room rates, potentially affecting incentive travel groups and meeting and event planners.
In the company’s first-quarter earnings report, Marriott chairman and CEO J.W. Marriott Jr. said business-travel traffic improved worldwide during the quarter, and corporate room nights in North America were 16-per-cent higher than they were in the first quarter of 2009.
“While first-quarter room rates were generally lower than last year, as occupancy levels continue to improve, we see higher room rates on the horizon,” according to Marriott. “In fact, we anticipate that North American systemwide revenue per available room will increase by 3 per cent to 6 per cent for the full year 2010, with higher room rates by year-end.”
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