Marriott reports lower second-quarter profit
Hotelier Marriott International reported a lower second-quarter profit on Thursday, hurt by a sharp decline in revenue per available room.
The Bethesda, Maryland-based company posted net income of $37 million, or 10 cents per share, down from $153 million, or 41 cents per share, a year earlier.
Excluding restructuring costs and other items, earnings were 23 cents per share.
Revenue fell to $2 health insurance companies.6 billion from $3.2 billion.
The company, which operates the Ritz Carlton, Renaissance and Marriott chains, said it could not provide its typical outlook, given the global economic climate.
(Reporting by Deepa Seetharaman; Editing by Lisa Von Ahn)