Overview
- Marriott reported Q1 adjusted earnings per share of $2.32 on $6.26 billion in revenue, surpassing analyst expectations.
- The company posted global RevPAR growth of 4.1% in Q1, exceeding the consensus projection of 3.0%.
- Marriott reduced its full-year RevPAR growth forecast to 1.5–3.5%, down from the previous 2–4% range, due to weaker U.S. government demand.
- Federal layoffs led to a 10% year-over-year decline in U.S. government RevPAR in March, with this segment contributing 4% of U.S. and Canada room nights in 2024.
- Industry peers Hyatt and Hilton have also revised their full-year RevPAR growth forecasts downward, reflecting broader travel demand challenges.