The Marriott International hotel group (-2.02% to $255.31) is in decline following a new warning on its results. In 2024, it targets earnings per share of between $9.19 and $9.27 compared to $9.23 to $9.40 previously. It is also still targeting an increase in RevPAR (revenue per available room and a key sector indicator) of 3% to 4%. According to the press, operators cited stable demand in the United States and weak demand in China, with wealthy Chinese preferring to travel abroad. RevPAR in “Greater China” fell 7.9% in the third quarter.
In the third quarter, the group's net profit amounted to $584 million, or $2.07 per share, compared to $752 million a year earlier, despite turnover increasing 6% to 6,255 billion dollars. Adjusted for exceptional items, earnings per share reached $2.26 while the consensus stood at $2.31.
Marriott's RevPAR increased by 3% at constant exchange rates, including 2.1% in North America and 5.4% in the rest of the world, the group said.
“Thanks to our asset-light business model generating significant liquidity and our strong financial performance, we returned $3.7 billion to shareholders through share repurchases and dividends during the first nine months of the year. “year, and we now expect to pay out approximately $4.4 billion for the whole of 2024,” said CEO Anthony Capuano.
