Nov 2 (Reuters) – Hotel operator Marriott International 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 an 8.3% rise in revPAR in the US and Canada.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Devika Syamnath)
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