Investors Eye Starwood, Marriott Earnings

    With the Marriott-Starwood merger looming, investors eagerly awaited fourth quarter 2015 results for both companies. Marriott International last night reported a slightly smaller-than-expected increase in revenue for its fourth quarter, while occupancy and daily average rates improved, according to MarketWatch. Fourth quarter 2015 net income totaled $202 million or 77 cents a share, a 3 percent increase over Q4 2014. Revenues rose to $3.7 billion, and worldwide comparable revenue per available room increased 3.8 percent on a constant dollar basis. Meanwhile, Starwood Hotels & Resorts Worldwide today reported a dip in fourth-quarter profit on lower revenue but still surpassed Wall Street expectations, the Associated Press reports. Income from continuing operations fell to $166 million from $245 million in the same quarter a year ago. Earnings, excluding special items, came to 89 cents per share. Worldwide RevPAR increased 2.8 percent in constant dollars compared to 2014, but decreased 1.1 percent in actual dollars. Marriott and Starwood will hold their separate stockholder meetings to approve the combination transactions on March 28. The companies expect to close the $12.2 billion deal in mid-2016. Read more here.

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