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Marriott narrows key North America revenue forecast, shares slip

(Reuters) - Marriott International Inc (MAR.O), the world's largest hotel chain, narrowed its forecast for the revenue it expects to earn this year from its rooms in North America, sending the company's shares down more than 2 percent in extended trading on Monday.

The narrower forecast for North America RevPAR – a key metric calculated by multiplying a hotel's average daily room rate by its occupancy rate – comes after Marriott raised its outlook for the metric in May.

The company, owner of the Ritz-Carlton and St. Regis luxury hotel brands, now expects...