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Marriott’s Fourth-Quarter Revenue Falls 14% Due to Shortened Quarter

Skift Take

Marriott says a shortened quarter is the primary cause for the drop in earnings, but there others factors including expansion and salaries that impact a drop.

— Samantha Shankman

Marriott International says its fourth-quarter earnings fell 17 percent after the hotel company shortened its quarter.

The hotel chain, best known for brands like Courtyard, Ritz-Carlton and Fairfield Inn, on Wednesday reported net income of $151 million, or 49 cents per share, for the 92 days that ended Dec. 31. That was down from the $181 million, or 56 cents per share, it earned in 2012 during a 112-day quarter.

The Bethesda, Md.-based company is changing its reporting calendar.

Marriott says revenue fell 14 percent, to $3.22 billion from $3.76 billion.

Wall Street had predicted the company would earn 49 cents per share on revenue of $3.37 billion, according to FactSet.

Shares are down 7 cents to $51.47 in after-hours trading.

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