Marriott appeared to come out on top of two company results issued by the hotel chain and rival InterContinental Hotel Group (IHG) this week.
Marriott posted a 17% increase in profits for 2012 at US$940 million, against IHG’s 10% rise to US$614m. The former’s results were helped along by the acquisition of Gaylord and new brands such as the Autograph Collection and EDITION.
An EDITION hotel, a “luxury lifestyle brand”, is to open in London this year, while its growth in 2012 was predominantly through the emerging markets in Asia Pacific, Africa and Middle East. Arne Sorenson, President & CEO of Marriott International, said he was “delighted” with the results.
IHG also saw increases in emerging countries but surprisingly its main growth market was the US, where its revPAR increase was more than any other region at 6.3%.
In London the group is set to put the InterContinental Park Lane up for sale, while its new property in Westminster will officially open next week.
IHG’s chief executive, Richard Solomons, said he was pleased with the “significant progress” made by the company in 2012. “The financing environment remained tough through 2012 in many of our key markets, but we still signed on average one hotel a day into our pipeline,” he added.
Below is a break-down of the results.
