Marriott celebrated 75th Birthday in tough year

New York._ Marriott International celebrated this week its 75th anniversary, as chairman and CEO J.W. Marriott Jr. provided a less-than-optimistic preview of the company´s second quarter results.

"Given that the lodging industry typically trails an economic recovery by three to six months, we expect the measure of profitability for hotels to decline in the quarter by 5% to 7%," said Marriott. This latest forecast was less optimistic than earlier projections.