Marriott International Inc. (MAR) reported first quarter 2012 earnings of 30 cents per share, beating the Zacks Consensus Estimate by a penny. Moreover, quarterly earnings were 30% higher than the year-ago quarter adjusted earnings of 23 cents per share. On a reported basis, earnings per share were 30 cents versus 26 cents in the year-ago quarter. Reported earnings include the adjustment for timeshare spin-off. Total revenue was $2,552 million in the reported quarter versus $2440 million in the prior-year quarter. Inside the Headline Numbers Base management fees rose 3% year over year to $124 million while franchise fees increased 8% year over year to $126 million, attributable to higher revenue per available room (RevPAR) at existing hotels. Incentive management fees jumped 19% year over year to $50 million. Owned, leased,
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