Written on Fri, 03/19/2010 - 10:21am
By Chip Brian
3/19/2010-Fitch Ratings raised its outlook on Marriott International's (NYSE:MAR) ratings--which are on the brink of junk--to stable amid improvement in lodging demand trends and the scaling back of its time-share business, Dow Jones reported.
Fitch said Friday that Marriott has the highest exposure in the U.S. high-end and urban markets, which have performed better than the overall hotel market in recent months.
As a result Fitch expects Marriott's revpar will exceed the industry average.
The ratings agency also noted that Marriott cut its debt by about $800 million last year, to below $2.3 billion, exceeding Fitch's estimates.
Keywords: marriot Fitch rating outlook
Ticker(s): MAR
