Marriott International reported strong third-quarter 2023 results this week, with revenue per available room (RevPAR) up 8.8 percent globally, 4.3 percent in the U.S. and Canada and 21.8 percent in international markets compared to the same period last year.
“We are extremely pleased with our results in the quarter. Worldwide RevPAR grew 9 percent year over year, reflecting robust demand around the world,” said Marriott International President and Chief Executive Officer Anthony Capuano.
“International RevPAR increased 22 percent, with particular strength in Asia Pacific. Both occupancy and rate contributed to global RevPAR gains in the third quarter, and cross-border travel continued to rise," he added.
“In the US and Canada, RevPAR rose more than 4 percent, with many urban markets showing outsized growth. Group and business transient saw mid-single digit hotel revenue gains in the quarter, largely driven by rate increases. Leisure transient demand in the region has also remained solid, leading to 4 percent hotel revenue growth for the segment compared to the year-ago quarter.”
During the third quarter, Marriott bolstered its room count with approximately 17,200 around the world, with its global pipeline including 200 properties and almost 557,000 rooms.
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