Marriott’s Earnings Flat in Quarter
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Marriott International Inc. said second-quarter earnings were little changed as tax benefits from a synthetic-fuel business helped the hotel company weather a slump in travel.
Marriott also said it may spin off its senior living unit and close a business that distributes food and other services to hotels and restaurants.
Net income was $129 million, or 50 cents a share, compared with $130 million, or 50 cents, a year earlier. Revenue rose 5.5% to $2.6 billion.
Shares of Bethesda, Md.-based Marriott rose $1.54 to $36.31 on the NYSE.
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