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News Summary: Marriott turns 3Q profit on prices

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The Associated Press | October 3, 2012 05:28 PM EST | AP


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.