Marriott International has delayed the opening of new hotels in Mexico, Asia and the Middle East until next year.
The US-based hotel chain said construction delays had pushed back the openings into 2013, while 9,000 rooms are set to ‘leave the system’ in 2012.
The announcement came in the chain’s second quarter results for 2012, which saw a double-digit rise (13%) in net profit of US$143 million (£92m). Marriott’s revenues totaled £1.78bn, down 7% year-on-year, but the company managed to reduce its expenditure by 8% to £1.6bn.
Strong corporate travel and ‘robust group bookings’ in North America boosted the chain’s performance during the quarter, while European properties were bolstered by visitors from Russia, the United States and China. The Asia Pacific region experienced the most significant growth, in terms of revenue per available room (revPAR), climbing 11% year-on-year to £65, although it remains lower than the global average of £80.
Arne Sorenson, president and CEO at Marriott said the group will be looking to exit its business in the Courtyard venture during this year’s third quarter, with rooms from its acquisition of Gaylord Hotels to start being transferred.
“In the second quarter, our business performed well in most markets around the world,” he added.
Marriott’s development pipeline now totals 115,000 rooms. This quarter its openings included the JW Marriott Hotel Absheron Baku in Azerbaijan (pictured); the Bulgari Hotel & Residences in London and the Turnberry Isle Miami.