May 24, 2010

Marriott to Double its Presence in China by 2015

By Darryl R. Isherwood

FOXBusiness Marriott International Inc. (MAR: 32.27, -0.66, -2%) signed agreements to build seven new hotels in China as the company seeks to dramatically increase its presence there by 2015.

By the end of 2010, Marriott expects to have some 60 hotels sunder six brand names in the country, which officials say will host 2.1 billion domestic and international tourists this year, up 12% from 2009.

Marriott has benefited from the beginning economic recovery as company's have resumed corporate travel. Last month, the company announced it had returned to a profit in the first quarter.

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