Marriott Posts Profit for Fourth Quarter

Marriott International Inc., the largest U.S. hotel company, reported a fourth-quarter profit of $169 million, helped by higher time-share sales as travel increased and by lower costs for its synthetic-fuel business.

The company had net income of 69 cents a share, compared with a loss of $37 million, or 15 cents a share, a year earlier, Bethesda, Md.-based Marriott said. Revenue for the quarter ended Jan. 2 rose 6.4% to $2.87 billion.

Marriott was expected to earn 61 cents a share, based on the average estimate of 19 analysts surveyed by Thomson First Call. Year-earlier results included costs of $153 million to exit two businesses.

Shares of Marriott fell 89 cents to $44.67 on the NYSE.