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Marriott Tops Expectations, Helped by Lower Costs

A Marriott International Inc. flag hangs at the entrance of the New York Marriott Downtown...

Last month, the hotel operator won a bidding war for the owner of the Sheraton and Westin chains, after rival Chinese bidder Anbang Insurance Group Co. abruptly pulled out. On Wednesday, Marriott Chief Executive Arne Sorenson said the merger is on track to close mid-2016.

Marriott’s portfolio includes Courtyard and Renaissance hotels, in addition to the high-end Ritz-Carlton and its namesake brand. In the latest quarter, world-wide comparable revPAR—or average revenue per available room—increased 1.2%, while the hotel metric rose 2.2% in North America. International revPAR declined 2.5%, but rose...