Reuters: Global Markets: Marriott shares fall on forecast cut

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Marriott shares fall on forecast cut Jul 12th 2012, 13:51 Thu Jul 12, 2012 9:51am EDT (Reuters) - Shares of Marriott International Inc (MAR.N) fell 4 percent on Thursday after the hotel operator said it was seeing weakness in some international markets. The company reported an in-line quarterly profit on Wednesday but lowered its full-year fee revenue forecast citing slowing demand overseas, especially in Asia and the Middle East. Marriott raised its 2012 earnings outlook but analysts said that was only due to additional share buybacks and a gain from a sale of its stake in a joint venture. "Weakness in the global economy is impacting Marriott's ability to drive double-digit revPAR in many of its international markets," said Nomura Securities analyst Harry Curtis, referring to revenue per available room. Shares of the company fell 5 percent to $36.14 in morning trade on Thursday on the New York Stock Exchange. Stocks of other hotel operators Starwood Hotels & Resorts (HOT.N), Hyatt Hotels (H.N) and Host Hotels & Resorts (HST.N) were also down.

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