Marriott Shares Spike on Higher Fees From Branded Credit Cards

Marriott International Inc. shares surged after the company said it expects credit card fees to grow thanks to an increase in the royalty rate it charges branding partners.

Marriott, the world’s largest hotel company with about 9,800 properties, is projecting gross fee revenue of $5.895 billion to $5.955 billion this year, the company said in a statement Tuesday.