Marriott Q2 earnings rise on higher hotel prices, annual room revenue outlook raised
New Delhi, Aug. 3 -- Hotel operator Marriott International reported better-than-expected second-quarter earnings on Monday, signalling resilient global travel demand despite geopolitical headwinds in parts of its international business.
The Bethesda, Maryland-based hospitality giant, reported a 3.4% year-on-year increase in Global Revenue Per Available Room (RevPAR), a key industry metric that combines room rates and occupancy. In the US and Canada, RevPAR rose 5%, driven primarily by higher average daily room rates.
However, the international business remained mixed. International RevPAR declined 0.5% during the quarter as the impact of the conflict in the Middle East outweighed solid growth across other overseas markets.
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