Marriott (MAR - Get Report) stock rose by 1.22% to $90.55 a share in Wednesday's after-hours trading after the hotel company reported 2016 fourth quarter and full-year sales that matched analysts' expectations.
For the fourth quarter, Marriott reported adjusted earnings of 85 cents per diluted share on $5.46 billion in revenue, compared with analysts surveyed at Factset's expectations of earnings of 85 cents a share on $5.04 billion in revenue.
Earnings excluded the costs from Marriott's $13 billion acquisition of Starwood Hotels & Resorts in September.
Last year, Marriott posted fourth quarter adjusted earnings of 71 cents per diluted share on $3.71 billion in revenue.
For the full year, the company reported earnings of $2.64 per diluted share on $17.07 billion in revenue, compared to last year's full-year earnings of $3.15 per diluted share on $14.49 billion in revenue.
Marriott said in its earnings report that it expects 2017 first-quarter earnings to be between 87 cents and 91 cents a share.
The company said as of Dec. 31, its worldwide developmental pipeline totaled 2,493 properties consisting of more than 420,000 rooms, with 892 properties currently under construction.
"In 2017, we anticipate our rooms distribution by 6%, net, and expect that our worldwide systemwide comparable constant dollar RevPAR for the combined portfolio will increase 0.5% to 1.5%," Marriott CEO Arne Sorenson said.
For the fourth quarter, adjusted EBITDA increased 11% to $756 million, according to Marriott.