Marriott Raises Full-Year RevPAR Forecast Following Strong Q2 Earnings
Marriott International raised its full-year revenue per available room (RevPAR) forecast after reporting stronger-than-expected second-quarter results. The company now expects global RevPAR to grow by 3% to 3.5%, up from a previous range of 2% to 3%. U.S. and Canada RevPAR increased by 5%, while international performance was mixed, with the Middle East seeing a sharp decline that offset gains elsewhere. For Q2, adjusted net income reached $844 million or $3.19 per diluted share—beating analyst estimates of $3.09—and total revenue hit $7.07 billion. However, third-quarter profit guidance fell below expectations due to the Middle East downturn. The company also announced a record development pipeline with nearly 629,000 rooms across approximately 4,200 properties.
Topics: full-year guidance hotel industry Q2 earnings beat RevPAR growth