Marriott International, the largest U.S. hotel chain, said second-quarter profit rose by 42% and increased its full-year earnings forecast on improving travel demand.
Net income climbed to $119 million from $84 million, a year earlier, the Bethesda, Maryland-based company said in a statement.
The lodging industry has shown signs of recovery after the U.S. recession crimped travel demand last year.
Occupancy in the top 25 markets rose to 62% through May from 58% during the comparable year-earlier period.
Second-quarter revenue climbed 7.7% to $2.77 billion. Revenue per available room, or revpar, rose 7.5% on a constant-dollar basis for company-operated properties in North America. Outside North America, revpar gained 9.8%.
The company, owner of the upscale JW Marriott Hotels and luxury Ritz-Carlton lines, expects to open more than 30,000 rooms this year.
Its focus is on expanding abroad. The hotelier plans to add at least 21 hotels in China in the next three years and double its rooms in Europe to 80,000 by 2015.
