Marriott CEO says luxury and resort hotels again led the region in the quarter
MAR•Marriott CEO said luxury and resort hotels again led the region in the third quarter. International RevPAR rose more than 4%, led by APEC, while Greater China was around flat; the CFO expected third-quarter demand trends to continue in the fourth quarter.
1. Regional hotel trends
Marriott's CEO said luxury and resort hotels again led the region in the third quarter, and global leisure RevPAR rose as travelers continued to prioritize in-person experiences. International RevPAR increased more than 4%, led by APEC, while Greater China was around flat amid uneven consumer spending and the impact of major typhoons. In the Caribbean and Latin America, strong luxury and leisure demand across the Caribbean offset continued softness in Mexico.
2. Fourth-quarter outlook
The CFO expected strong demand trends across chain scales and customer segments to continue in the fourth quarter. In EMEA, continued strength in Europe was anticipated to be more than offset by declines in the Middle East; the CFO also cited cancellations of some large events in Saudi Arabia and heightened tensions there.
