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Stock Analyst Update

Big Cities Deliver Big Results for Marriott

Rising occupancies and room rates boost earnings.

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With results boosted by strong demand in big cities, hotel operator Marriott International (MAR) on Thursday reported earnings for the three months ended June 16 of 50 cents per share--2 cents better than the consensus estimate and up 19% from the year-earlier period.

In late 1999, the company had guided estimates lower for its 2000 results. Thus, today's better-than-expected earnings were well-received on Wall Street, where shares rose about 3% to $38, even though they were based on lowered expectations.

Richard Wilson does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.