(Reuters) – Marriott International Inc (NASDAQ:) posted a quarterly profit on Wednesday compared to a year earlier. The increase in travel demand boosted the hotel’s occupancy rates.

The RevPAR (or revenue per room available) for The Ritz-Carlton brands was comparable to the company’s quarter. It increased by 96.5%.

Hotel operator Announces Quarterly Cash Dividend of 30 Cents Per Share

Anthony Capuano, Chief Executive Officer of the company stated in a statement that “if we assume that demand continues to improve” and that our target leverage ratio range is within reach we would also expect to resume share-repurchases in 2022.

In light premarket trading, Marriott shares rose 2.1% and reached $176.63

For the quarter ending March 31, 2013, the company posted a net profit of $377million, which is $1.14 per share. This compares to a loss in January of $11 million or 3 cents per shares.