Worldwide briefing

Marriott flat out

US-based hotel group Marriott International has reported virtually flat profits in the second quarter of 2002. Net profit for the period was $129m (£83m), compared with $130m (£83.6m) a year earlier. Turnover was up by 5% on last year to $5.1b (£3.2b).

Yummy upgrades

Yum Brands, formerly Tricon Global Restaurants, says it will spend the majority of its $800m (£515m) capital expenditure budget on upgrading its Pizza Hut and KFC restaurants, as well as increasing business overseas.

Drop for Dorint

German hotel group Dorint has posted a net loss of €6.4m (£4m) for 2001, compared with a net profit of €1.2m (£763,000) in 2000. Turnover was up by 13% on 2000 to €489m (£311m). Expected turnover for 2002 was €500m (£318m).

Standalone Schrager

Ian Schrager Hotels has entered into an agreement to manage the 331-bedroom Shore Club hotel on Miami Beach in Florida. The deal is Schrager's first in standalone hotel management.

Slow progress

US hotel chains have made progress in providing business opportunities for black people but have been slow to increase black property ownership, says a report from the National Association for the Advancement of Coloured People (NAACP). The association said there were now African-Americans on six out of 11 boards of directors in the industry, compared with just one five years ago.