Marriott studies continued restoration in third quarter | Information

Marriott reports continued recovery in third quarter | News


Marriott Worldwide has reported an working revenue of $545 million within the 2021 third quarter, in comparison with 2020 third quarter reported working revenue of $252 million.

Reported internet revenue totalled $220 million within the 2021 third quarter, in comparison with 2020 third quarter reported internet revenue of $100 million.

Reported diluted earnings per share (EPS) totalled $0.67 within the quarter, in comparison with reported diluted EPS of $0.31 within the year-ago quarter.

The resort big mentioned third quarter 2021 comparable systemwide fixed greenback RevPAR elevated 118 per cent worldwide, 135 p.c in the US and Canada, and 76 per cent in worldwide markets, when in comparison with the 2020 third quarter.

Anthony Capuano, chief govt of Marriott Worldwide, mentioned: “We had been happy to see continued significant enchancment in world tendencies within the third quarter, regardless of the affect of the Delta variant of Covid-19 through the second half of the quarter.

“For the quarter, worldwide RevPAR was down 26 per cent in comparison with the 2019 third quarter, a big enchancment from the second quarter RevPAR decline of 44 per cent in comparison with the identical quarter in 2019.

“Third quarter occupancy topped 58 per cent, pushed largely by continued power in leisure demand.

“Common each day charge, which was solely 4 p.c beneath 2019 ranges for the quarter, has been recovering way more shortly than previously two downturns.”

He added: “Most of our areas noticed appreciable enchancment in RevPAR within the third quarter in comparison with the second quarter.

“In our largest area, the US and Canada, third quarter RevPAR got here in 20 per cent beneath the identical quarter in 2019, in comparison with down 40 per cent within the second quarter versus the identical quarter in 2019.

“Europe noticed a dramatic rise in demand within the quarter, as many key worldwide borders opened, with 2021 RevPAR in comparison with 2019 bettering to down 44 per cent from down 77 per cent within the second quarter.

“ADR for the area trailed third quarter 2019 ranges by simply 5 per cent.”

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