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Laptop Battery Marriott International CEO, J.W. Marriott, Jr., said the travel industry was booming when the hotel chain announced record earnings Tuesday.
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Laptop Computers Feb 8, 2005 (AXcess News) Washington - In an earnings announcement released Tuesday, Marriott International, Inc. (NYSE: MAR) CEO J.W. Marriott, Jr. said that he attributed the hotel chain's record earnings to a boom in the travel industry.
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Laptop Computer Marriott reported record earnings of $2.47 per share, an increase of 27 percent, on annual revenue of $10 billion. Revenue rose 12 percent over the prior year's figures, the company reported.
laptop computers is driving strong sales for notebook computers, according to the latest quarterly sales figures from the research firm IDC, which reported a 37% computer sales for the second quarter, compared with a year earlier. In the U.S., laptop sales grew 17.7%, while sales of desktop computers and servers fell 4%. The New York Times ( 10), CNET ( 10)
Desktop Computer Earnings before income tax was reported to be $594 million, a 25 percent increase over 2003 levels.Marriott Jr. was qouted as saying, "After three years of unprecedented challenges, the travel industry is booming, especially in the United States and Asia, as people travel again for business and pleasure."
Notebooks "Just as our industry is enjoying a new revitalization, so is our company. We opened 166 new hotels (27,000 rooms) during 2004 in exciting locations like China, Belgium and Italy," said Marriott Jr.
Lenovo "Although 2004 was a spectacular year for the company, we are even more optimistic and enthusiastic about the future. We currently have more than 55,000 rooms inAdvertisementour development pipeline and expect to add 25,000 to 30,000 hotel rooms and timeshare units to our system in 2005. With increasing room rate momentum, outstanding service quality, continuing product enhancements, global expansion and strong interest in our timeshare business, 2005 should be another record earnings year," continued Mr. Marriott.
Hard Drive In 2004, Marriott's property revenue booked through all internet sources increased 37 percent over the prior year to $2.1 billion, with most of this revenue booked on Marriott.com, the company's proprietary web site, which increased 41 percent to $1.8 billion.Shares of Marriott were down 95 cents, or 1.43%, at $65.55 at 11:52am ET Tuesday when this story was published. Marriott's shares closed Monday at $66.50, a 52-week high.
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