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    News Summary: Marriott turns 3Q profit on prices

    By The Associated Press | Associated Press – Wed, Oct 3, 2012

    CHECKING IN: Marriott turned a better-than-expected profit despite a slow global economy in the third quarter on higher prices and strong occupancy rates across its brands.

    ROOM SERVICE: Revenue per available room, a key metric of a hotel company's performance, rose 7 percent in the quarter. Marriott said higher occupancy rates led to less last-minute discounts, which help boost rates.

    WITHOUT RESERVATIONS: Marriott said it's particularly optimistic about North American demand and expects revenue per available room in the region to increase by 5 to 7 percent next year.

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