The decline ?has a lot to do with the run-up in prior weeks and on the back of others reporting big beats,? Deutsche Bank analyst Chris Woronka said. ?These are very impressive numbers indeed, but the strong results were expected,? ...
Woronka also attributed Marriott's earnings beat to some $12 million in adjustments related to residual interest on timeshare notes previously sold that were mark-to-market. All types of hotels - from budget to luxury - have been ...
Last month Marriott International, the largest US hotel chain, said it will cut prices, halt development at some residential resorts and at some luxury fractional ownership properties, and sell some undeveloped land. ... 'The main obstacle for the industry is that there will be a semi-permanent reduction in demand because developers would sell to people with relatively low credit scores,' explained Woronka. 'That won't be possible anymore. ...
