Marriott Outlines Growth Goals for Next Three Years
Marriott International (MAR) said that earnings per share could hit $2.75 by 2013.
The estimate is part of a range of ambitious growth forecasts for the next three years. The company said that it expects to add as many as 90,000 hotel rooms to its portfolio from 2011 to 2013, with additional opportunities for 22,000 rooms to open in Europe and Asia over the same time period.
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The forecasts are based on growth scenarios where revenue per available room rises 5% to 9% annually over the next three years.
"We are on the threshold of extraordinary growth for our company," said CEO J.W. Marriott, Jr.
Marriott International will invest as much as $2.7 billion over the next three years.
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