NEW YORK (Bloomberg) — Marriott International Inc., the world's largest lodging company, said first-quarter profit declined 34 percent, matching analysts' estimates, after travellers booked fewer hotel rooms as the US economy slowed.

The hotel company reaffirmed its 2008 revenue growth predictions, sending the shares up as much as 4.4 percent.

Net income fell to $121 million, or 33 cents a share, from $182 million, or 44 cents, a year earlier, Marriott said yesterday in a statement.

Higher gasoline prices and dropping home values led consumers to cut back on vacations and companies to curb travel. Marriott blunted the impact of slowing US hotel revenue growth and falling time-share profits with increased sales overseas and by selling rooms in New York and Miami to international travelers who took advantage of the declining dollar.