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Marriott Tumbles on Soft Outlook

International revPAR this quarter should grow around 11% year-over-year. In 2010 Marriott's international properties accounted for 65% of all incentive fees.

Berquist also reaffirmed Marriott's outlook for first-quarter earnings-per-share between 24 cents and 28 cents.

First-quarter financial results are due to be reported on April 20. Analysts' consensus is for Marriott to book a profit of $107.5 million, or 28 cents per share, on revenue of $2.88 billion.

When Marriott reported its fourth-quarter results earlier this year, investors were particularly impressed with word from Marriott that it would split itself into two separate, publicly traded companies .

"Marriott International expects to spin off its timeshare operations and development business as a new independent company through a special tax-free dividend to Marriott International shareholders in late 2011," the company said in February.

Analysts from Goldman Sachs (GS) cut their rating and price target on Marriott, citing uncertainty about the company's planned timeshare spin-off.

Goldman downgraded Marriott to neutral, from buy, and cut its price target on the stock by $10 to $38.

-- Written by Miriam Marcus Reimer in New York.



>To contact the writer of this article, click here: Miriam Reimer.

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