02/13/2024

Marriott's 2024 Profit Forecast Lags Estimates as U.S. Demand Moderates

It expects a full-year 2024 profit of between $9.18 and $9.52 per share

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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