Marriott Posts Quarterly Positive factors, Sees Enterprise Journey Choosing Up within the Fall

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Marriott International Inc. posted good points for the June quarter, pushed by leisure journey, as the corporate retains a watch on the unfold of the Delta variant, executives stated.

“The charge of worldwide lodging restoration accelerated through the second quarter and momentum has continued into July,” Chief Executive Anthony Capuano stated Tuesday. “Leisure demand once again led the way, although business transient and group demand also continued to grow” within the U.S. and Canada, which collectively comprise the corporate’s largest area.

The resort chain, whose portfolio encompasses roughly 7,800 properties world-wide, sees demand for enterprise and group stays rising within the fall because it anticipates extra employees returning to workplaces on a hybrid foundation, Mr. Capuano stated. “Many of our associates are starting to get back on the road, and our largest corporate clients tell us they are beginning to do the same,” he stated.

The firm, primarily based in Bethesda, Md., has additionally seen extra mixing of leisure journeys with enterprise journey, a pattern it expects to proceed, Mr. Capuano stated.

But Marriott has seen some cancellations for group bookings later this 12 months that may very well be attributable to the unfold of the Delta variant, finance chief Kathleen Oberg stated. “I expect that more uncertainty about comfort of travel later this year could be impacting the few cancellations that we’re seeing,” Ms. Oberg stated in an interview. She added that cancellations have slowed meaningfully from earlier within the pandemic.


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