News Summary: Marriott turns 3Q profit on prices
CHECKING IN: Marriott turned a better-than-expected profit despite a slow global economy in the third quarter on higher prices and strong occupancy rates across its brands.
ROOM SERVICE: Revenue per available room, a key metric of a hotel company's performance, rose 7 percent in the quarter. Marriott said higher occupancy rates led to less last-minute discounts, which help boost rates.
WITHOUT RESERVATIONS: Marriott said it's particularly optimistic about North American demand and expects revenue per available room in the region to increase by 5 to 7 percent next year.