posted fourth-quarter earnings in line with expectations, mostly on the strength of an increase in per-room revenue.
The Bethesda, Md.-based company, whose stock has languished in the single digits for months, posted earnings of 54 cents a share, a 23% increase over pro forma year-ago figures, and matched what analysts surveyed by
First Call/Thomson Financial
Marriott, which restructured itself into a real estate investment trust in 1998, reached a settlement, along with
, to resolve litigation resulting from six limited partnerships. As a result of that litigation, the company took a $40 million one-time charge in the quarter.
Host Marriott owns about 125 upscale and luxury hotels, most of them in the U.S. and operated under the Marriott name.