Marriott reports 3 percent increase in Q3 global RevPAR - 0 views
-
asianhospitality on 06 Nov 24MARRIOTT INTERNATIONAL REPORTED a 3 percent increase in global RevPAR, with 2.1 percent growth in the U.S. and Canada and 5.4 percent in international markets for the third quarter. Net income totaled $584 million, and approximately 16,000 net rooms were added during the quarter. "Marriott had another solid quarter, highlighted by strong net rooms and fee growth, robust development activity, and a 3 percent increase in global RevPAR," said Anthony Capuano, Marriott's president and CEO. "Third-quarter international RevPAR rose 5.4 percent, led by gains in APEC and EMEA, with resilient domestic and cross-border demand and solid ADR growth. U.S. & Canada RevPAR increased over 2 percent year-over-year, with ADR up 2.3 percent." Capuano noted the group segment stood out, with global group RevPAR rising 10 percent and expected to grow 8 percent for 2024. "RevPAR for the business transient segment continued to grow, while leisure transient RevPAR remained flat year-over-year but still well ahead of pre-pandemic levels," he said.