Marriott's Q2 profit rises to $844 million, pipeline hits record 629,000 rooms
On Monday, Marriott International updated its forecast for full-year room revenue growth following better-than-anticipated results for the second quarter. The company reported a profit of $844 million for Q2, while its development pipeline hit an all-time high of 629,000 rooms. Nevertheless, a significant drop in hotel revenue from the Middle East caused the third-quarter profit outlook to fall short of analysts' predictions. The stock ticker for the company is MAR.
Key facts
- Marriott International raised its full-year room revenue growth forecast.
- Second-quarter results were stronger than expected.
- Q2 profit rose to $844 million.
- Development pipeline hit a record 629,000 rooms.
- Middle East hotel revenue declined sharply.
- Third-quarter profit guidance was below analyst expectations.
- The announcement was made on Monday.
- Marriott's stock ticker is MAR.
Entities
Institutions
- Marriott International
Locations
- Middle East
Sources
- Quartz —