Reported 3 months ago
Marriott International has reduced its 2024 revenue growth forecast due to a deteriorating operating environment in China and anticipated lower demand in North America. The company's revenue per available room (RevPAR) forecast is now between 3% and 4%, down from a previous estimate of 5%. Despite reporting a quarterly profit that exceeds expectations, Marriott's RevPAR in China fell by 4.6%, while other regions in Asia saw a 12% increase. The slowdown in China could also impact competitors like Hilton Worldwide.
Source: YAHOO