Marriott International posted second quarter earnings Wednesday showing a 13% increase in revenue to $2.8 billion, or 31 cents per share, topping the Streets consensus of 28 cents per share on $2.7 billion in revenue.

After a first quarter boasting a revenue per available room increase of 9% year over year and the first increase in room rates in almost two years, Marriott International ( MAR – news – people ) went beyond expectations for its second quarter. The hotel operator posted a second quarter net income of $119 million, a 42% increase over last years second quarter, and a 35% increase in earnings per share. Incentive fees rose 31%, along with worldwide revenue per avvailable room, which jumped 9.9%, 8.2% using constant dollars. The company was able to increase daily rates 1.2%, or 0.8% using constant dollars.

Marriott said it cut total debt by $350 million in the quarter, while adding 4,257 new rooms across 14 new properties.

In line with Marriotts earnings, other big names in the hotel industry have also benefited from a strong 2010. So far in 2010, Marriott stock is up 18%, while Hyatt Hotel Corporation ( H – news – people ) has gained 25.8%, Holiday Inn parent company, InterContinental Hotels Group PLC ( IHG – news – people ) has jumped 22.7%, and Starwood Hotels & Resorts Worldwide, Inc ( HOT – news – people ), owner of the Westin and Sheraton brands, is up 27.5%. Marriott is the first of the group to release earnings this quarter.

“This is an exciting time for Marriott. Business and leisure stays at our hotels are trending up. Revenue per available room increased more than expected in the second quarter and room rates at company-operated hotels in North America rose for the first time in nearly two years, said J.W. Marriott, Jr., chairman and chief executive officer of Marriott International. At quarters end, Marriott encompassed more than 607,000 rooms across 3,489 properties.

Marriott made a slim gain Wednesday before its earnings report, but slipped 0.5% Thursday morning.

Similar Posts:

• Marriott Rewards® Credit Card – Earn up to 6 Free Nights
• Hotel chains join hands against credit card fraud and scams
• Weight Watchers Looks A Little Too Porky
• (PH) Parker Hannifin Quarterly Earnings Beat Expectations
• Visa Swipes Strong Second Quarter