Corrected: UPDATE 1-Marriott lifts annual room revenue growth forecast on resilient travel demand

Marriott International

Mon 12:06

Corrects to say revPAR rose roughly 12%, not 8.3%, in paragraph 6
Nov 2 (Reuters) - Hotel operator Marriott International MAR.O raised its full-year room revenue growth forecast on Monday, betting that strong travel demand would drive bookings across its properties.
Shares of the company were up 3.4% in premarket trading.
Wealthier consumers splurged on luxury experiences, while demand for mid-scale and budget hotels also improved during the quarter as leisure travel held up despite still-high inflation and geopolitical uncertainty.
Business travel remained robust too, benefiting hotel operators such as Marriott.
The Bethesda, Maryland-based company expects 2026 revenue per available room (revPAR) - a key lodging metric that tracks average daily rate and occupancy - to grow between 4.5% and 5%, compared with its prior forecast of a 3% to 3.5% increase.
Marriott's up-scale segment, which houses brands such as Ritz-Carlton and St. Regis, reported a roughly 12% rise in revPAR in the US and Canada.

Marriott outperforms peer Hilton, broader S&P 500 benchmark over the past year https://tmsnrt.rs/4sVzb2h
 (Reporting by Anshuman Tripathy in Bengaluru; Editing by Devika Syamnath)
 ((Anshuman.Tripathy@thomsonreuters.com;))