February 27, 2024 10:30 am
Marriott International Experiences Slower U.S. Business Growth Following Post-Pandemic Highs

Marriott International Inc. (MAR) reported a lower-than-expected fourth-quarter revenue, indicating that the post-pandemic travel boom is slowing down. While North American revenue rose 3.3%, international sales were up 17.4%. This was not enough to meet analysts’ estimates and caused the stock to drop about 6.3% at midday on Tuesday.

Marriott’s overall fourth-quarter revenue increased 2.9% to $6.1 billion, missing estimates, while earnings per share (EPS) of $3.57 exceeded forecasts. The company also reported that overall revenue per available room (RevPAR) was up 7.2%, but only 3.3% in the U.S., indicating a decrease in demand for travel in the country compared to other regions of the world. Business traveler sales added 3%, and demand from large corporate customers continued to grow, suggesting that despite a decline in leisure travel, business travel is still on the rise as people continue to work remotely and attend virtual meetings from different locations around the world.

Looking ahead, Marriott’s current-quarter EPS is anticipated to be in a range of $2.12 to $2

Leave a Reply