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Marriott raises profit forecast on strong travel demand

Marriott International Inc. raised its full-year profit forecast, as the US hotel operator bets on higher room rates and resilient travel demand to boost its earnings. The company sees full-year adjusted profit of USD 8.36-8.65 per share, up from the prior forecast of between USD 7.97-8.42 per share. Marriott's revenue per available room, or RevPAR, an important metric in the hospitality industry, rose about 13.5 per cent in the quarter from a year earlier.