Hotel operator Marriott International forecast 2024 profit below Wall Street expectations on Tuesday, as room revenue in the Unites States normalizes from post-pandemic highs.
Travel demand and costs in the U.S. have been returning to normal levels after seeing a post-COVID spike from "revenge travel". Travel companies are expecting their 2024 boost to come from China, the final region lagging in its recovery from the pandemic.
Marriott sees a full-year 2024 profit of between $9.18 and $9.52 per share, while analysts had expected $9.69 per share, LSEG data showed.
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