Yesterday morning, October 6, 2011, Marriott reported 3rd quarter results that beat market expectations. Arne Sorenson, President & COO of Marriott - reported on CNBC that they do not see any weakness in their business today. If you recall just last month, Denis Hennequin, Global CEO for Accor Hotels - Europe's largest hotel group, reported on CNBC that they did not see any slowdown in hotel demand either.
Could the worries about lodging and the effects of a potential double dip recession be unfounded? Marriott just purchased, in the 3rd quarter, over half a Billion Dollars of its own stock back. Do they know something that we don't know? See what Arne Sorenson has to say about all this in an interesting 4 Minute CNBC interview.
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(Please note a 15 second commercial may precede the video)
Frank M. Speranza