Marriott released an earnings report that showed improvmenet in the hotel industry. Net income was $119.00 million, far more than the previous quarter.
In an effort to further expand its position in the luxury market, Marriott announced that it would open a 357-room, luxury hotel in Miami by mid-2010. This hotel, known as The JW Marriott Marquis will feature a restaurant by chef Daniel Boulud as well as large rooms with 50-inch televisions, among other amenities.
MAR announces that it will continue to develop its relationship with Carter Brothers, an electronic security and fire alarm firm. In a $1.5 million deal, Carter Brothers will install ADA-compliant alarm systems in Marriott-branded hotels in Southern California.
04/18/07 - 04/19/07: Marriott’s share price decreased from USD 51.9 on April 18, 2007 to USD 47.9 on April 19, 2007 as the company lowered its outlook for the year.
01/30/07 - 02/08/07: Marriott’s share price rose from USD 46.7 on January 30, 2007 to USD 51.2 on February 8, 2007 due to announcements related to expansion of international operations as well as better than expected fourth quarter results.
12/28/06 – 01/05/07: Marriott’s share price decreased from USD 48.1 on December 28, 2006 to USD 45.1 on January 5, 2007, due to the overall slowdown in the hotel industry and because the company’s CFO sold his shares.