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Marriott International

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Hotel behemoth Marriott International announced Monday that it has agreed to buy rival chain Starwood Hotels & Resorts in a $12.2 billion deal that …

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Marriott International Inc., the Bethesda-based hospitality giant, reported quarterly profits that surpassed analysts’ estimates as demand for high-end brands increased noticeably. Rising prices and strong occupancy rates helped boost Marriott International’s profits to $143 million, or 45 cents per share.

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China's hospitality industry is doing well right now as three major hotel chains in the past announced this week that they will be opening new hotels in China. China has become a very important market in the hospitality industry as more and more people are choosing to visit China while more Chinese are making visits around the country and staying in hotels in China. China received over 56 million international visits in 2010 and is also world's third largest market for outbound tourists.

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