Marriott raises outlook; Hyatt misses on weak group bookings

Hotel operator Marriott International reported a 31 per cent jump in quarterly profit and raised its full-year profit outlook due to a business-led recovery that boosted occupancy rates and higher room rates in North America.

Marriott results follow those of rival Hyatt Hotels, which reported quarterly sales below Wall Street estimates due to its higher exposure to a weak group bookings business in the United States.

via Business feed http://www.scmp.com/business/companies/article/1228225/marriott-raises-outlook-hyatt-misses-weak-group-bookings