Marriott projects upbeat revenue per room growth as travel demand stays strong

(Reuters) - Marriott International on Wednesday forecast two-year annualized global revenue per available room (RevPAR) growth of 3% to 6% by 2025, as the hotel operator expects resilient international travel demand.

A recovery in international travel following the easing of pandemic restrictions has been buoyed by a strong dollar, as well as flexible work arrangements that have encouraged more Americans to fly overseas for leisure and business.

The company in August raised its annual profit outlook as it expected to gain from pricier room rates and sustained demand for travel.

Ahead of the company's analysts meeting later on Wednesday, Marriott said adjusted earnings per share could rise between 25% and 29% in 2023 from a year earlier and expects a two-year annualized growth of 10% to 15% to reach about $11.45 in 2025.

Total gross fee revenue could rise between 16% and 18% in 2023 from a year earlier and reach up to $5.8 billion in 2025 at a two-year annualized growth rate of 6.5% to 9.5%, Marriott said.

(Reporting by Priyamvada C in Bengaluru; Editing by Sriraj Kalluvila)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Robinhood prices $2B convertible notes offering due 2029
• Worried the AI trade has gone too far? Evercore likes these 4 stocks