With companywide negotiations completed and property-level negotiations just beginning, Marriott International last week said its corporate negotiated rates would increase in the 6 percent to 8 percent range in 2008. Marriott's expectations, announced by CFO Arne Sorenson in the company's third-quarter earnings conference call to investors, is slightly above the 5.7 percent increase PricewaterhouseCoopers predicted in overall U.S. corporate rates last month. Sorenson also said Marriott is in line to open 30,000 rooms both in 2007 and in 2008, while the hotel company will remove 11,000 rooms this year and 5,000 in 2008.

Source: BTNonline