Hotel operator Marriott International Inc (MAR.N) expects 'to have to navigate through a tough 2009,' the company's chief financial officer said on Tuesday.
Arne Sorenson said in a blog posting on the company's website that Marriott's debt levels and timeshare investment spending were expected to decline next year,
The company said in October that it expected revenue per available room, or Revpar, one of the industry's key performance measures, to be down at least 3 percent in North America next year, and Chief Executive Bill Marriott said last month that Marriott's business outlook had deteriorated further.
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Source - Boston.com
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