(Reuters) – Marriott International on Tuesday raised its full-year adjusted profit forecast as the U.S. hotel operator is counting on a recovery in travel demand to lift its profit.
Hotel operators have begun to reap the rewards of a strong recovery in international travel as the easing of pandemic restrictions and a strong dollar have encouraged consumers to travel abroad.
The group, parent company of Ritz-Carlton, recorded a 13.5% increase in its RevPar (revenue per available room) constant exchange rates for the quarter ended June 30 over one year.
The company forecasts full-year adjusted earnings of $8.36-8.65 (7.62-7.88 euros) per share, down from a previous forecast of $7.97-8.42 per share.
(Reporting Priyamvada C in Bangalore; French version Lina Golovnya, editing by Kate Entringer)
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