Marriott International Inc., the biggest U.S. hotel chain, reported a third-quarter loss after a $752 million pretax charge for its time-share business.

Marriott operates about a dozen properties in Hawaii, including four time-share resorts.

The net loss in the 12 weeks ended Sept. 11 was $466 million, or $1.31 a share, compared with a profit of $94 million, or 25 cents a share, a year earlier, the Bethesda, Md.-based company said.

Hotel owners are struggling to attract customers as the sputtering economy deters vacationers and forces companies to slash travel budgets. Marriott has cut costs by shortening work hours, freezing hiring and reducing investment spending.

AVERAGE GAS PRICE IN ISLES DOWN 6 CENTS

The average price of a gallon of regular gas in Hawaii declined for the second week in a row, falling by 6 cents, to $3.27, according to the AAA Hawaii Weekend Gas Watch.

In Honolulu, the average price was $3.16 a gallon, down 6 cents from a week ago.

The average price in Hilo, Hawaii, was $3.28, down 6 cents from a week ago.

In Wailuku, Maui, the average price was $3.62, also down 6 cents from the previous week.

STATE LOOKS TO SELL $623.5M IN BONDS

The state of Hawaii wants to take advantage of low interest rates by issuing $623.5 million of general obligation bonds that will be used to refund bonds issued at higher rates.

The bonds, which have been rated "AA" by Fitch Ratings, are expected to be sold in coming weeks. Underwriters Merrill Lynch & Co., Citi, Piper Jaffray & Co. and Robert W. Baird & Co. have started marketing of the bonds, which are expected to have a retail order period starting Tuesday. Prior bond sales have attracted interest from local residents, who seek out the bonds because the interest is exempt from state and federal taxes.

Other sellers of the bonds include Charles Schwab & Co., First Honolulu Securities, Raymond James & Associates, Edward Jones, Morgan Stanley, Wells Fargo Securities and Wedbush Morgan Securities.