Reported 21 days ago
Marriott International has lowered its full-year outlook due to declining revenues in the Chinese market, posting $6.25 billion in revenue and adjusted earnings of $2.26 per share, slightly below estimates. Analyst David Katz noted that while group bookings are strong, high-end leisure travel has struggled. There is a notable imbalance between outbound and inbound travel, impacting revenue, and consumers are reluctant to pay premium rates. Despite these challenges, Katz believes that there are opportunities for Marriott's growth in non-China Asia-Pacific markets.
Source: YAHOO