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Marriott Hotels & Resorts

Hotel room rates have risen in the last year but they are still down 10 percent from before the 2008 economic downturn, Arne Sorenson, president of Marriott International, told CNBC Thursday.

Now, however, he sees business and leisure travel increasing at all Marriott’s brands, including its luxury Ritz-Carlton and its Courtyard motels for business travelers.

He said Marriott expects to spin off its time-share business in October or November.

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