With the company’s analysts set to meet later on Wednesday, Marriott claimed that its adjusted earnings per share could rise between 25% and 29% in 2023 from the previous year. Two-year annualized growth of 10% to 15% is expected leading up to 2025. Total gross fee revenue could increase between 16% and 18% in 2023, while the two-year annualized growth rate is projected to be between 6.5% and 9.5%.

International travel has been on a constant recovery since the easing of pandemic restrictions. Flexible work arrangements have also been sustained since the pandemic, meaning that more tourists have the flexibility to travel, even if they work some of the time while abroad.

The post Marriott Projects Revenue Growth Amid Resilient Travel Demand appeared first on theprimarymarket.com.

The world’s biggest hotel chain blew away Wall Street estimates, reporting $5.34 billion in net sales versus the $5.02 billion predicted. The company’s adjusted earnings per share clocked at $1.80 compared to $1.57 expected, while adjusted full-year EPS guidance is now $6.33 to $6.59 vs. $5.97 expected. Finally, Marriott’s net income stands at $678 million, which marks a substantial increase compared to $422 million in the same period last year.

Speaking with the media on Tuesday, Marriott CEO Anthony Capuano said that these impressive results are a testament to the company’s business model. 

“Marriott’s second-quarter results highlight consumers’ love for travel,” Capuano added. “We reported outstanding results, as momentum in global lodging recovery continued.”

Marriott stock (MAR) saw a 2% jump after Q2 results were made public, going from $159.57 close on Monday to $162.20 per share on Tuesday morning. MAR has been consistent throughout the year, avoiding the slide that hit most other stocks. At the moment, Marriott shares are only 3.40% down year to date.

The post Marriott Beats Wall Street Estimates, Delivers Impressive Q2 Results appeared first on theprimarymarket.com.

With the company’s analysts set to meet later on Wednesday, Marriott claimed that its adjusted earnings per share could rise between 25% and 29% in 2023 from the previous year. Two-year annualized growth of 10% to 15% is expected leading up to 2025. Total gross fee revenue could increase between 16% and 18% in 2023, while the two-year annualized growth rate is projected to be between 6.5% and 9.5%.

International travel has been on a constant recovery since the easing of pandemic restrictions. Flexible work arrangements have also been sustained since the pandemic, meaning that more tourists have the flexibility to travel, even if they work some of the time while abroad.

The post Marriott Projects Revenue Growth Amid Resilient Travel Demand appeared first on theprimarymarket.com.

The world’s biggest hotel chain blew away Wall Street estimates, reporting $5.34 billion in net sales versus the $5.02 billion predicted. The company’s adjusted earnings per share clocked at $1.80 compared to $1.57 expected, while adjusted full-year EPS guidance is now $6.33 to $6.59 vs. $5.97 expected. Finally, Marriott’s net income stands at $678 million, which marks a substantial increase compared to $422 million in the same period last year.

Speaking with the media on Tuesday, Marriott CEO Anthony Capuano said that these impressive results are a testament to the company’s business model. 

“Marriott’s second-quarter results highlight consumers’ love for travel,” Capuano added. “We reported outstanding results, as momentum in global lodging recovery continued.”

Marriott stock (MAR) saw a 2% jump after Q2 results were made public, going from $159.57 close on Monday to $162.20 per share on Tuesday morning. MAR has been consistent throughout the year, avoiding the slide that hit most other stocks. At the moment, Marriott shares are only 3.40% down year to date.

The post Marriott Beats Wall Street Estimates, Delivers Impressive Q2 Results appeared first on theprimarymarket.com.